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

Shares of Sappi Ltd. (OTCMKTS:SPPJY) gapped down prior to trading on Wednesday . The stock had previously closed at $1.52, but opened at $1.43. Sappi shares last traded at $1.35, with a volume of 2,500 shares changing hands.

Analyst Ratings Changes

Separately, Zacks Research raised Sappi from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Sappi Stock Down 10.6%

The company has a market cap of $755.87 million, a price-to-earnings ratio of -4.82, a P/E/G ratio of 0.19 and a beta of 0.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.20 and a quick ratio of 0.63. The firm has a 50-day moving average price of $1.44 and a 200 day moving average price of $1.51.

Sappi (OTCMKTS:SPPJY) last released its quarterly earnings results on Thursday, November 6th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). Sappi had a negative net margin of 3.27% and a positive return on equity of 1.78%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.34 billion.

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.