Sappi Ltd. (OTCMKTS:SPPJY – Get Free Report)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.00 and traded as low as $0.6355. Sappi shares last traded at $0.7044, with a volume of 19,796 shares traded.
Wall Street Analyst Weigh In
Separately, Zacks Research downgraded Sappi from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Sappi presently has a consensus rating of “Sell”.
Check Out Our Latest Stock Analysis on SPPJY
Sappi Stock Down 6.9%
Sappi (OTCMKTS:SPPJY – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.08) EPS 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 4.85% and a negative net margin of 12.70%. As a group, analysts forecast that Sappi Ltd. will post -0.19 earnings per share for the current fiscal year.
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.
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