Stora Enso Oyj (OTCMKTS:SEOAY) Shares Gap Down - Here's What Happened

Key Points

• Stora Enso Oyj's share price opened significantly lower at $11.07, down from the previous close of $11.59, with current trading at $11.14.
• A series of analyst downgrades have impacted the stock, with Wall Street Zen and BNP Paribas both lowering their ratings to "sell" and "strong sell", respectively.
• The company reported an earnings miss with $0.06 EPS against the estimated $0.07, though it exceeded revenue expectations with $2.84 billion for the quarter.

Stora Enso Oyj (OTCMKTS:SEOAY - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $11.59, but opened at $11.07. Stora Enso Oyj shares last traded at $11.14, with a volume of 2,097 shares.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen lowered Stora Enso Oyj from a "hold" rating to a "sell" rating in a research report on Monday, July 28th. BNP Paribas lowered Stora Enso Oyj from a "hold" rating to a "strong sell" rating in a report on Wednesday, June 25th. Berenberg Bank raised Stora Enso Oyj to a "hold" rating in a research note on Friday, August 29th. Finally, UBS Group lowered Stora Enso Oyj from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Stora Enso Oyj presently has an average rating of "Reduce".

Stora Enso Oyj Price Performance

The company has a market cap of $8.83 billion, a price-to-earnings ratio of -70.00 and a beta of 0.78. The company has a fifty day moving average price of $11.29 and a two-hundred day moving average price of $10.38. 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 posted its 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). Stora Enso Oyj had a negative return on equity of 3.87% and a negative net margin of 1.18%.The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.47 billion. As a group, equities research analysts anticipate that Stora Enso Oyj will post 0.67 EPS for the current fiscal year.

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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