Short Interest in Stora Enso Oyj (OTCMKTS:SEOAY) Declines By 92.3%

Key Points

• The short interest in Stora Enso Oyj has dramatically fallen by 92.3%, reducing to 4,100 shares as of September 30th, down from 53,300 shares earlier in the month.
• Stora Enso Oyj recently reported an EPS of $0.06, which was below the expected $0.07, while revenue was higher than anticipated at $2.84 billion.
• The company announced a dividend of $0.0883 per share on October 9th, with a dividend yield of 79.0% despite a negative payout ratio of -75.00%.

Stora Enso Oyj (OTCMKTS:SEOAY - Get Free Report) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 4,100 shares, a decrease of 92.3% from the September 15th total of 53,300 shares. Based on an average daily trading volume, of 70,900 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 70,900 shares, the days-to-cover ratio is presently 0.1 days.

Stora Enso Oyj Price Performance

Shares of SEOAY stock traded down $0.17 during trading hours on Thursday, hitting $10.05. The company's stock had a trading volume of 41,702 shares, compared to its average volume of 74,531. The business has a fifty day moving average of $11.28 and a 200-day moving average of $10.41. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of -62.81 and a beta of 0.81. Stora Enso Oyj has a twelve month low of $7.97 and a twelve month high of $12.35. The company has a current ratio of 1.18, a quick ratio of 0.80 and a debt-to-equity ratio of 0.36.

Stora Enso Oyj (OTCMKTS:SEOAY - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The basic materials company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.47 billion. Stora Enso Oyj had a negative net margin of 1.18% and a negative return on equity of 3.87%. As a group, equities research analysts anticipate that Stora Enso Oyj will post 0.67 EPS for the current year.

Stora Enso Oyj Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, October 9th. Investors of record on Friday, September 26th were paid a dividend of $0.0883 per share. The ex-dividend date of this dividend was Thursday, September 25th. This represents a dividend yield of 79.0%. Stora Enso Oyj's dividend payout ratio is presently -75.00%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SEOAY shares. BNP Paribas upgraded shares of Stora Enso Oyj from a "strong sell" rating to a "hold" rating and set a $10.80 target price on the stock in a research report on Monday, September 29th. Berenberg Bank upgraded shares of Stora Enso Oyj to a "hold" rating in a research report on Friday, August 29th. Wall Street Zen lowered shares of Stora Enso Oyj from a "hold" rating to a "sell" rating in a research report on Monday, July 28th. Finally, UBS Group lowered shares of Stora Enso Oyj from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Stora Enso Oyj has an average rating of "Reduce" and an average target price of $10.80.

About Stora Enso Oyj

Stora Enso Oyj provides renewable solutions for the packaging, biomaterials, wooden constructions, and paper industries in Finland and internationally. It operates through Packaging Materials, Packaging Solutions, Biomaterials, Wood Products, Forest, Paper, and Other segments. The company's Packaging Materials segment offers virgin and recycled fiber replace fossil-based materials with low-carbon, renewable and recyclable packaging materials for food and beverage, pharmaceutical, and transport packaging.

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