Zacks Investment Research cut shares of Sappi (OTCMKTS:SPPJY) from a hold rating to a sell rating in a research note released on Tuesday.
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. “
Separately, JPMorgan Chase & Co. raised shares of Sappi from a neutral rating to an overweight rating in a report on Friday, June 15th.
Sappi (OTCMKTS:SPPJY) last released its quarterly earnings data on Monday, August 13th. The basic materials company reported $0.10 earnings per share for the quarter. Sappi had a net margin of 5.60% and a return on equity of 17.69%. The company had revenue of $1.45 billion for the quarter. analysts predict that Sappi will post 0.61 earnings per share for the current year.
Sappi Company Profile
Sappi Limited, a woodfibre company, manufactures and sells dissolving wood pulp, paper pulp, and paper-based solutions to direct and indirect customers in North America, Europe, and Southern Africa. It offers graphic paper products that are used by printers in the production of books, brochures, magazines, catalogues, direct mail, newspapers, and other print applications; and packaging and specialty papers, which are used in the manufacture of soup sachets, luxury carry bags, cosmetic and confectionery packaging, boxes for agricultural products for export, and tissue wadding for household tissue products, as well as casting and release papers for fashion, textiles, automobile, and household industries.
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