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

Key Points

• Sappi Ltd. shares gapped up opening at $1.71 after a previous close of $1.62, with a trading volume of 300 shares.
• Zacks Research downgraded Sappi to a "strong sell" rating, contributing to a current consensus rating of "Sell" among analysts.
• The company reported a loss of $0.04 per share for the last quarter, missing analysts' expectations of $0.03, with quarterly revenue of $1.32 billion against estimates of $1.35 billion.

Sappi Ltd. (OTCMKTS:SPPJY - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $1.62, but opened at $1.71. Sappi shares last traded at $1.71, with a volume of 300 shares trading hands.

Wall Street Analyst Weigh In

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

Sappi Price Performance

The stock has a fifty day moving average of $1.68 and a two-hundred day moving average of $1.89. The stock has a market cap of $957.43 million, a price-to-earnings ratio of 10.06 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 announced its quarterly earnings data on Thursday, August 7th. The basic materials company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.07). Sappi had a return on equity of 6.12% and a net margin of 1.75%.The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion.

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.

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