Jeronimo Martins SGPS (OTCMKTS:JRONY) Lowered to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded Jeronimo Martins SGPS from hold to strong sell, even as other firms remain more constructive on the stock.
• Analyst sentiment is mixed overall: Barclays kept an overweight rating, RBC started coverage with a moderate buy, and Kepler upgraded the shares to strong-buy. MarketBeat data shows a consensus rating of Moderate Buy.
• The stock was trading up 2.2% at $37.67, but it remains below its 50-day and 200-day moving averages; the company also recently missed EPS estimates despite roughly meeting revenue expectations.

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 report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research firms also recently issued reports on JRONY. Barclays restated an "overweight" rating on shares of Jeronimo Martins SGPS in a research note on Friday, July 3rd. Royal Bank Of Canada initiated coverage on Jeronimo Martins SGPS in a report on Monday. They set a "moderate buy" rating for the company. Kepler Capital Markets raised shares of Jeronimo Martins SGPS from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Finally, Citigroup restated a "buy" rating on shares of Jeronimo Martins SGPS in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Jeronimo Martins SGPS has a consensus rating of "Moderate Buy".

Jeronimo Martins SGPS Trading Up 2.2%

Shares of JRONY stock opened at $37.67 on Wednesday. Jeronimo Martins SGPS has a 12-month low of $36.67 and a 12-month high of $53.25. The company has a market capitalization of $11.85 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.31 and a beta of 0.82. The firm has a 50 day moving average price of $41.60 and a two-hundred day moving average price of $46.25. The company has a quick ratio of 0.37, a current ratio of 0.62 and a debt-to-equity ratio of 0.15.

Jeronimo Martins SGPS (OTCMKTS:JRONY - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). The firm had revenue of $10.42 billion during the quarter, compared to analyst estimates of $10.40 billion. Jeronimo Martins SGPS had a net margin of 1.75% and a return on equity of 20.82%. As a group, analysts predict that Jeronimo Martins SGPS will post 2.78 earnings per share for the current year.

Jeronimo Martins SGPS Company Profile

Jeronimo Martins SGPS is a Portugal-based corporate group engaged primarily in food distribution and retail. Through its flagship Pingo Doce banner in Portugal, the company operates a network of full-service supermarkets and convenience outlets offering fresh produce, grocery items, and private-label products. In addition, its cash-and-carry arm, Recheio, supplies wholesale and hospitality professionals with a broad range of food and non-food goods.

Beyond its home market, Jeronimo Martins has established a significant presence in Poland under the discount supermarket brand Biedronka.

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