Sappi (OTCMKTS:SPPJY) Stock Price Crosses Below Two Hundred Day Moving Average - What's Next?

Key Points

• Sappi Ltd.'s stock price has fallen below its 200-day moving average of $1.78, trading as low as $1.11 before last closing at $1.29.
• The company reported a loss of $0.04 per share for the quarter, missing analyst expectations of $0.03, with quarterly revenue of $1.32 billion against estimates of $1.35 billion.
• Research firm Zacks downgraded Sappi to a "strong sell" rating, contributing to a consensus rating of "Sell" among analysts.

Shares of Sappi Ltd. (OTCMKTS:SPPJY - Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.78 and traded as low as $1.11. Sappi shares last traded at $1.29, with a volume of 500 shares changing hands.

Wall Street Analysts Forecast Growth

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

Sappi Stock Performance

The stock's 50-day moving average is $1.57 and its 200-day moving average is $1.78. The stock has a market cap of $722.27 million, a price-to-earnings ratio of 7.59 and a beta of 0.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.24 and a quick ratio of 0.62.

Sappi (OTCMKTS:SPPJY - Get Free Report) last announced its earnings results on Thursday, August 7th. The basic materials company reported ($0.04) earnings per share (EPS) 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 firm 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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