Sappi (OTCMKTS:SPPJY) Rating Increased to Hold at Zacks Research

Sappi (OTCMKTS:SPPJY) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Sappi Stock Performance

Shares of Sappi stock opened at $0.70 on Tuesday. The company’s 50 day moving average price is $0.73 and its two-hundred day moving average price is $1.00. The firm has a market capitalization of $425.87 million, a P/E ratio of -0.63 and a beta of 0.59. Sappi has a fifty-two week low of $0.59 and a fifty-two week high of $1.78. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.35 and a quick ratio of 0.70.

Sappi (OTCMKTS:SPPJY) last announced its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Sappi had a negative return on equity of 4.85% and a negative net margin of 12.70%.The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.40 billion. On average, equities analysts forecast that Sappi will post -0.19 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.