Sappi (OTCMKTS:SPPJY) Posts Earnings Results, Meets Expectations

Sappi (OTCMKTS:SPPJY) issued its quarterly earnings results on Friday. The basic materials company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03), Zacks reports. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Sappi had a negative return on equity of 6.41% and a negative net margin of 15.44%.

Sappi Stock Performance

OTCMKTS:SPPJY remained flat at $0.79 on Friday. 75 shares of the company’s stock were exchanged, compared to its average volume of 608. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $477.89 million, a P/E ratio of -0.58, a price-to-earnings-growth ratio of 0.29 and a beta of 0.59. Sappi has a 1-year low of $0.59 and a 1-year high of $1.72. The stock’s 50 day moving average is $0.82 and its two-hundred day moving average is $0.92.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Sappi from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Hold rating. According to MarketBeat, Sappi currently has an average rating of “Hold”.

Sappi Company Profile

Sappi Limited is a global forest-products company that produces woodfibre-based materials for customers in packaging, textiles, printing, publishing, and other industrial markets. Its portfolio includes dissolving pulp, packaging and speciality papers, graphic papers, and related biomaterials.

The company’s dissolving pulp is used in products such as textiles, nonwoven materials, pharmaceutical applications, and food-related products. Sappi also manufactures coated and uncoated papers for commercial printing, publishing, advertising, and office use, as well as flexible packaging papers, label papers, and other speciality products.

Founded in South Africa in 1936 as South African Pulp and Paper Industries, Sappi has developed into an international business with manufacturing operations and sales activities across Europe, North America, and Southern Africa.