Sappi (OTCMKTS:SPPJY) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Sappi (OTCMKTS:SPPJY) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

Sappi Price Performance

OTCMKTS:SPPJY opened at $0.63 on Monday. Sappi has a 52-week low of $0.63 and a 52-week high of $1.89. The company has a market cap of $380.89 million, a P/E ratio of -0.57 and a beta of 0.55. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.70 and a current ratio of 1.35. The stock’s 50-day simple moving average is $0.86 and its 200 day simple moving average is $1.11.

Sappi (OTCMKTS:SPPJY) last issued its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.40 billion. Sappi had a negative net margin of 12.70% and a negative return on equity of 4.85%. As a group, sell-side analysts forecast that Sappi will post -0.2 EPS for the current fiscal year.

About Sappi

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.