Sappi (OTCMKTS:SPPJY) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Shares of Sappi Ltd. (OTCMKTS:SPPJY) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.24 and traded as low as $0.9479. Sappi shares last traded at $0.9479, with a volume of 676 shares changing hands.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Sappi from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Sappi Price Performance

The business has a 50 day moving average price of $1.04 and a two-hundred day moving average price of $1.23. The stock has a market cap of $570.60 million, a PE ratio of -0.85 and a beta of 0.61. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 1.18.

Sappi (OTCMKTS:SPPJY) last announced its earnings results on Thursday, May 7th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Sappi had a negative return on equity of 4.61% and a negative net margin of 12.70%. Research analysts expect that Sappi Ltd. will post -0.14 earnings per share for the current fiscal year.

About Sappi

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.