Sappi (OTCMKTS:SPPJY) Trading Down 8.3% - Here's What Happened

Key Points

• Sappi Ltd. shares dropped 8.3% during trading, closing at $1.55, with increased trading volume.
• The company reported a loss of $0.04 earnings per share, missing expectations by $0.07, and revenues also fell short of forecasts at $1.32 billion.
• Sappi has a market capitalization of $951.83 million and a PE ratio of 10.00, indicating some concerns about its financial performance.

Shares of Sappi Ltd. (OTCMKTS:SPPJY - Get Free Report) dropped 8.3% during trading on Wednesday . The stock traded as low as $1.55 and last traded at $1.55. Approximately 6,095 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 5,840 shares. The stock had previously closed at $1.69.

Sappi Stock Up 0.6%

The firm has a market cap of $951.83 million, a PE ratio of 10.00 and a beta of 0.76. The company has a quick ratio of 0.68, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $1.78 and a two-hundred day moving average price of $2.04.

Sappi (OTCMKTS:SPPJY - Get Free Report) last issued its quarterly earnings results 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 6.09%. The business had revenue of $1.32 billion during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.