Jeronimo Martins SGPS (OTCMKTS:JRONY) Shares Cross Below 50 Day Moving Average - What's Next?

Key Points

• Jeronimo Martins SGPS shares fell below their 50-day moving average of $49.23, last trading at $48.30 with a volume of 6,619 shares.
• Citigroup upgraded Jeronimo Martins to a "strong-buy" rating, with the stock having a consensus rating of "Buy" from analysts.
• The company's recent earnings report showed an EPS of $0.70, exceeding expectations, but revenue of $10.23 billion slightly missed analyst projections.

Jeronimo Martins SGPS SA (OTCMKTS:JRONY - Get Free Report)'s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $49.23 and traded as low as $48.24. Jeronimo Martins SGPS shares last traded at $48.30, with a volume of 6,619 shares trading hands.

Analyst Ratings Changes

Separately, Citigroup upgraded Jeronimo Martins SGPS from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy".

Jeronimo Martins SGPS Stock Performance

The firm has a market capitalization of $15.20 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.45 and a beta of 0.87. The stock has a fifty day simple moving average of $49.23 and a two-hundred day simple moving average of $48.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.57 and a quick ratio of 0.31.

Jeronimo Martins SGPS (OTCMKTS:JRONY - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. The business had revenue of $10.23 billion during the quarter, compared to the consensus estimate of $10.30 billion. Jeronimo Martins SGPS had a return on equity of 20.66% and a net margin of 1.78%. On average, research analysts predict that Jeronimo Martins SGPS SA will post 2.13 EPS for the current year.

Jeronimo Martins SGPS Company Profile

Jerónimo Martins, SGPS, SA operates in the food distribution and specialized retail sectors in Portugal, Poland, and Colombia. The company operates through Portugal Retail; Portugal Cash & Carry; Poland Retail; Colombia Retail; and Others, Eliminations and Adjustments segments. It operates food stores under the Biedronka name; and a chain of health and beauty stores under the Hebe banner in Poland, as well as food stores under the Ara name in Colombia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.