Jeronimo Martins SGPS (OTCMKTS:JRONY) Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded Jeronimo Martins SGPS to “Strong Sell” from “Hold,” contrasting with generally positive ratings from other firms; MarketBeat’s consensus rating remains “Moderate Buy.”
• The stock opened at $38.59, near its 52-week low of $36.67 and below its 50-day and 200-day moving averages of $40.68 and $42.19, respectively.
• Despite the downgrade, the company’s latest quarterly results exceeded expectations on earnings, reporting EPS of $0.72 versus a $0.60 consensus estimate, while revenue of $10.67 billion fell slightly short of forecasts.

Jeronimo Martins SGPS (OTCMKTS:JRONY - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Wednesday, Zacks reports.

Several other research firms have also weighed in on JRONY. Royal Bank Of Canada started coverage on Jeronimo Martins SGPS in a report on Monday, July 6th. They issued a "moderate buy" rating for the company. Kepler Capital Markets upgraded Jeronimo Martins SGPS from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. Barclays reissued an "overweight" rating on shares of Jeronimo Martins SGPS in a research report on Friday, July 3rd. Citigroup reaffirmed a "buy" rating on shares of Jeronimo Martins SGPS in a report on Monday, August 10th. Finally, Jefferies Financial Group upgraded shares of Jeronimo Martins SGPS from a "hold" rating to a "buy" rating in a research note on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Jeronimo Martins SGPS presently has an average rating of "Moderate Buy".

Jeronimo Martins SGPS Price Performance

OTCMKTS JRONY opened at $38.59 on Wednesday. Jeronimo Martins SGPS has a fifty-two week low of $36.67 and a fifty-two week high of $52.97. The stock's 50-day moving average is $40.68 and its two-hundred day moving average is $42.19. The firm has a market cap of $12.14 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 1.73 and a beta of 0.77. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.64 and a quick ratio of 0.35.

Jeronimo Martins SGPS (OTCMKTS:JRONY - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.12. The company had revenue of $10.67 billion during the quarter, compared to the consensus estimate of $10.74 billion. Jeronimo Martins SGPS had a return on equity of 20.03% and a net margin of 1.73%. On average, analysts anticipate that Jeronimo Martins SGPS will post 2.53 earnings per share for the current fiscal year.

About Jeronimo Martins SGPS

Jeronimo Martins, SGPS, SA is a Portugal-based international food retail and distribution group. Founded in 1792, the company operates primarily through grocery retail, cash-and-carry distribution, and specialized retail businesses serving consumers and professional customers.

Its principal retail brand in Portugal is Pingo Doce, a supermarket chain offering food, beverages, household products, and related services. The group also operates Recheio, a cash-and-carry business that supplies restaurants, hotels, and other professional customers.

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