Sappi (OTCMKTS:SPPJY) Shares Gap Down - Here's What Happened

Key Points

• Sappi Ltd. shares gapped down from a previous close of $1.68 to open at $1.55, with a trading volume of 221 shares.
• Zacks Research downgraded Sappi to a "strong sell" rating, contributing to a current consensus rating of "Sell."
• The company's latest earnings report revealed a loss of ($0.04) earnings per share, missing estimates, with total revenue of $1.32 billion, below expectations.

Sappi Ltd. (OTCMKTS:SPPJY - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $1.68, but opened at $1.55. Sappi shares last traded at $1.55, with a volume of 221 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research raised Sappi to a "strong sell" rating in a report on Friday, August 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Sell".

Sappi Stock Performance

The firm has a fifty day simple moving average of $1.69 and a 200-day simple moving average of $1.91. The company has a market cap of $867.85 million, a PE ratio of 9.12 and a beta of 0.83. The company has a quick ratio of 0.62, a current ratio of 1.24 and a debt-to-equity ratio of 0.63.

Sappi (OTCMKTS:SPPJY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.07). The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.35 billion. Sappi had a return on equity of 6.12% and a net margin of 1.75%.

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.

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