Sappi (OTCMKTS:SPPJY) Trading 8.5% Higher - Here's What Happened

Key Points

• Sappi Ltd. shares increased by 8.5% on Friday, trading at $1.40, though the volume was down by 61% compared to the average daily volume.
• Zacks Research assigned a "strong sell" rating to the company, contributing to a consensus rating of "Sell" among analysts.
• The company's recent quarterly earnings showed a loss of $0.04 per share, falling short of the estimated profit, with revenues of $1.32 billion against expectations of $1.35 billion.

Sappi Ltd. (OTCMKTS:SPPJY - Get Free Report) shares rose 8.5% on Friday . The company traded as high as $1.40 and last traded at $1.40. Approximately 2,324 shares traded hands during trading, a decline of 61% from the average daily volume of 5,964 shares. The stock had previously closed at $1.29.

Analysts Set New Price Targets

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

Sappi Stock Up 8.5%

The company has a quick ratio of 0.62, a current ratio of 1.24 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $1.57 and a two-hundred day moving average price of $1.78. The firm has a market cap of $783.86 million, a PE ratio of 8.24 and a beta of 0.87.

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 (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.07). Sappi had a net margin of 1.75% and a return on equity of 6.12%. The company had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.35 billion.

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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