Sappi (OTCMKTS:SPPJY) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Sappi Ltd. (OTCMKTS:SPPJY) shares passed 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 trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Sappi from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. One research 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 Stock Up 2.5%

The business has a 50-day simple moving average of $1.04 and a two-hundred day simple moving average of $1.24. The stock has a market capitalization of $573.08 million, a P/E ratio of -0.85 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 1.18 and a debt-to-equity ratio of 0.65.

Sappi (OTCMKTS:SPPJY) last announced its quarterly 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). Sappi had a negative net margin of 12.70% and a negative return on equity of 4.61%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.40 billion. Equities research analysts forecast 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.