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

Key Points

• Sappi Ltd. shares gapped down from a closing price of $1.65 to an opening price of $1.60, with current trading at $1.60 and a volume of 280 shares.
• Analysts have downgraded Sappi to a "strong sell" rating, contributing to a consensus rating of "Sell" for the stock.
• In its recent earnings report, Sappi reported a loss of ($0.04) earnings per share, missing analyst expectations, alongside revenues of $1.32 billion which also fell short of estimates.

Sappi Ltd. (OTCMKTS:SPPJY - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $1.65, but opened at $1.60. Sappi shares last traded at $1.60, with a volume of 280 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Sappi to a "strong sell" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of "Sell".

Sappi Trading Up 6.2%

The stock has a fifty day moving average of $1.72 and a two-hundred day moving average of $1.99. The company has a market capitalization of $951.83 million, a PE ratio of 10.00 and a beta of 0.76. The company has a current ratio of 1.38, a quick ratio of 0.68 and a debt-to-equity ratio of 0.60.

Sappi (OTCMKTS:SPPJY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The basic materials company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.07). The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. Sappi had a net margin of 1.75% and a return on equity of 6.09%.

About Sappi

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.