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

Shares of Sappi Ltd. (OTCMKTS:SPPJY) gapped down before the market opened on Friday . The stock had previously closed at $1.35, but opened at $1.2750. Sappi shares last traded at $1.2750, with a volume of 500 shares traded.

Wall Street Analyst Weigh In

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

Sappi Price Performance

The company has a fifty day moving average of $1.39 and a 200-day moving average of $1.64. The company has a current ratio of 1.24, a quick ratio of 0.62 and a debt-to-equity ratio of 0.63. The stock has a market cap of $713.87 million, a PE ratio of 7.50 and a beta of 0.85.

Sappi (OTCMKTS:SPPJY) last released its earnings results on Thursday, November 6th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.34 billion. Sappi had a net margin of 1.75% and a return on equity of 6.12%.

Sappi Company Profile

Sappi Limited, together with its subsidiaries, engages in the provision of materials made from woodfiber-based renewable resources in Europe, North America, and South Africa. The company manufacture and sells dissolving pulp, and wood and paper pulp; graphic papers, coated and uncoated papers, and casting and release papers; and packaging and specialty papers, including packaging and specialty papers, including flexible packaging papers, label papers, functional paper packaging products, containerboards, paperboards, silicone base papers, and dye sublimation papers.