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

Sappi Ltd. (OTCMKTS:SPPJY)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $1.06, but opened at $1.00. Sappi shares last traded at $1.00, with a volume of 2,000 shares.

Analyst Ratings Changes

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

Sappi Price Performance

The stock has a market capitalization of $616.67 million, a price-to-earnings ratio of -2.22 and a beta of 0.67. The company has a quick ratio of 0.55, a current ratio of 1.18 and a debt-to-equity ratio of 0.65. The business’s 50 day simple moving average is $1.15 and its 200-day simple moving average is $1.32.

Sappi (OTCMKTS:SPPJY) last released its earnings results on Wednesday, February 4th. The basic materials company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Sappi had a negative net margin of 5.31% and a negative return on equity of 2.34%.

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.