Sappi Ltd. (OTCMKTS:SPPJY) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Thursday.

According to Zacks, “SAPPI LTD -ADR is the world ‘s leading producer of coated fine paper. They hold major market shares in Europe, North America and Africa. They have customers in over 100 countries worldwide. Their manufacturing operations span eight countries on three continents. “

Sappi (SPPJY) opened at 6.732 on Thursday. Sappi has a 12 month low of $4.22 and a 12 month high of $7.97. The firm has a market capitalization of $3.60 billion, a PE ratio of 11.410 and a beta of 0.90. The firm has a 50-day moving average of $7.27 and a 200 day moving average of $6.77.

Sappi (OTCMKTS:SPPJY) last posted its quarterly earnings results on Monday, May 15th. The basic materials company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The firm had revenue of $1.32 billion for the quarter. Sappi had a net margin of 6.21% and a return on equity of 24.59%. Equities research analysts forecast that Sappi will post $0.58 earnings per share for the current year.

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