Klabin (OTCMKTS:KLBAY) Stock Price Down 7% After Earnings Miss

Klabin SA (OTCMKTS:KLBAY)’s share price fell 7% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $6.6204 and last traded at $6.6204. Approximately 173 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 4,403 shares. The stock had previously closed at $7.12.

The basic materials company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.05).

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Klabin from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 3rd. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Klabin Stock Performance

The company’s fifty day simple moving average is $7.27 and its two-hundred day simple moving average is $7.18. The company has a market capitalization of $20.69 billion, a price-to-earnings ratio of 39.25 and a beta of 0.61.

Klabin Company Profile

Klabin SA is a Brazilian integrated producer of paper, packaging, and forest products. The company operates across the forestry, pulp, paper, and packaging value chain, managing planted forests and producing bleached and unbleached pulp, kraft paper, containerboard, corrugated packaging, industrial bags, and other paper-based products.

Its products serve a range of industries, including food and beverage, agriculture, consumer goods, e-commerce, and industrial manufacturing. Klabin also produces timber and operates in the tissue-paper segment, offering products for consumer and business markets.