Sappi (OTCMKTS:SPPJY) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Shares of Sappi Ltd. (OTCMKTS:SPPJY) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.03 and traded as low as $0.72. Sappi shares last traded at $0.78, with a volume of 132,782 shares.

Analysts Set New Price Targets

Separately, Zacks Research lowered Sappi from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Sappi has an average rating of “Sell”.

Sappi Price Performance

The company has a debt-to-equity ratio of 0.91, a current ratio of 1.35 and a quick ratio of 0.70. The business’s fifty day moving average price is $0.76 and its 200-day moving average price is $1.03. The stock has a market capitalization of $471.57 million, a price-to-earnings ratio of -0.70 and a beta of 0.59.

Sappi (OTCMKTS:SPPJY) last posted its earnings results on Thursday, May 7th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.40 billion. Sappi had a negative return on equity of 4.85% and a negative net margin of 12.70%. On average, research analysts forecast that Sappi Ltd. will post -0.2 EPS for the current year.

Sappi Company Profile

Sappi Limited, trading on the OTCMKTS as SPPJY, is a global pulp and paper company headquartered in Johannesburg, South Africa. Originally established in 1936 as South African Pulp and Paper Industries, Sappi has grown into a diversified manufacturer of dissolving wood pulp, graphic papers, packaging and specialty papers. The company serves customers in over 150 countries and operates a network of mills and sales offices across three key regions: Europe, North America and South Africa.

Sappi’s product portfolio is organized into several main categories.