Stora Enso Oyj (OTCMKTS:SEOAY) Shares Gap Down After Earnings Miss

Stora Enso Oyj (OTCMKTS:SEOAY)’s stock price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $11.44, but opened at $10.13. Stora Enso Oyj shares last traded at $10.23, with a volume of 3,619 shares traded.

The basic materials company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). Stora Enso Oyj had a net margin of 6.63% and a return on equity of 2.58%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.79 billion.

Wall Street Analyst Weigh In

Separately, BNP Paribas Exane initiated coverage on Stora Enso Oyj in a research report on Wednesday, June 10th. They issued a “neutral” rating for the company. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.80.

Stora Enso Oyj Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.07 and a quick ratio of 0.57. The firm has a market capitalization of $8.16 billion, a P/E ratio of 11.37 and a beta of 0.64. The firm’s 50 day simple moving average is $11.03 and its two-hundred day simple moving average is $11.83.

About Stora Enso Oyj

Stora Enso Oyj is a Finland‐based provider of renewable solutions in packaging, biomaterials, wooden construction and paper. The company draws on centuries of forest industry experience and leverages sustainable practices to produce a wide array of products, including paperboard for consumer goods, specialty papers for printing and publishing, and pulp for industrial applications. Its portfolio also encompasses wood products such as cross-laminated timber, sawn timber and building components, designed to meet growing demand for environmentally friendly construction materials.

Formed through the 1998 merger of Swedish mining and forestry giant Stora and Finnish paper maker Enso, Stora Enso combines deep heritage with ongoing investments in innovation.