Sappi (OTCMKTS:SPPJY) Downgraded by Zacks Investment Research to “Sell”
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. “
SPPJY has been the subject of several other reports. JPMorgan Chase & Co. cut shares of Sappi from an overweight rating to a neutral rating in a research note on Wednesday, June 5th. ValuEngine upgraded shares of Sappi from a sell rating to a hold rating in a research note on Thursday, August 1st.
Sappi (OTCMKTS:SPPJY) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter. Sappi had a net margin of 4.60% and a return on equity of 14.89%. The firm had revenue of $1.37 billion during the quarter. Analysts forecast that Sappi will post 0.47 EPS for the current year.
Sappi Limited, a woodfibre company, manufactures and sells dissolving wood pulp, specialties and packaging papers, and graphic/printing papers to direct and indirect customers in North America, Europe, Southern Africa, and internationally. The company offers dissolving wood pulp products that are used by converters to create viscose fiber for clothing and textiles, acetate tow, and pharmaceutical products, as well as a range of consumer products.
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