Sappi (OTCMKTS:SPPJY) Shares Gap Down – Here’s Why

Sappi Ltd. (OTCMKTS:SPPJY) shares gapped down prior to trading on Tuesday . The stock had previously closed at $1.09, but opened at $1.03. Sappi shares last traded at $1.03, with a volume of 3,000 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of Sappi from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Sappi presently has a consensus rating of “Sell”.

Sappi Stock Performance

The company has a market cap of $576.70 million, a price-to-earnings ratio of -2.24 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 1.18. The company has a fifty day moving average of $1.21 and a two-hundred day moving average of $1.35.

Sappi (OTCMKTS:SPPJY) last issued its earnings results on Wednesday, February 4th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Sappi had a negative return on equity of 2.34% and a negative net margin of 5.31%.

Sappi Company Profile

Sappi Limited, trading on the OTCMKTS as SPPJY, is a global pulp and paper company headquartered in Johannesburg, South Africa. Originally established in 1936 as South African Pulp and Paper Industries, Sappi has grown into a diversified manufacturer of dissolving wood pulp, graphic papers, packaging and specialty papers. The company serves customers in over 150 countries and operates a network of mills and sales offices across three key regions: Europe, North America and South Africa.

Sappi’s product portfolio is organized into several main categories.