Sappi (OTCMKTS:SPPJY) Posts Earnings Results, Hits Expectations

Sappi (OTCMKTS:SPPJY) posted its earnings results on Friday. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03), Zacks reports. Sappi had a negative net margin of 15.44% and a negative return on equity of 6.41%.

Sappi Price Performance

OTCMKTS SPPJY traded down $0.05 on Friday, reaching $0.74. 1,100 shares of the stock traded hands, compared to its average volume of 832. The firm’s fifty day simple moving average is $0.82 and its 200 day simple moving average is $0.93. The company has a market cap of $449.63 million, a price-to-earnings ratio of -0.55, a P/E/G ratio of 0.26 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 0.94. Sappi has a 12 month low of $0.59 and a 12 month high of $1.72.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Sappi from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Hold rating. According to MarketBeat.com, Sappi presently has a consensus rating of “Hold”.

Sappi Company Profile

Sappi Limited is a global forest-products company that produces woodfibre-based materials for customers in packaging, textiles, printing, publishing, and other industrial markets. Its portfolio includes dissolving pulp, packaging and speciality papers, graphic papers, and related biomaterials.

The company’s dissolving pulp is used in products such as textiles, nonwoven materials, pharmaceutical applications, and food-related products. Sappi also manufactures coated and uncoated papers for commercial printing, publishing, advertising, and office use, as well as flexible packaging papers, label papers, and other speciality products.

Founded in South Africa in 1936 as South African Pulp and Paper Industries, Sappi has developed into an international business with manufacturing operations and sales activities across Europe, North America, and Southern Africa.