Jeronimo Martins SGPS (OTCMKTS:JRONY) Shares Gap Down - What's Next?

Key Points

• Jeronimo Martins SGPS shares experienced a significant drop, opening at $47.04 after closing at $48.58, marking a 2.8% decline.
• Analysts have upgraded the stock from a "hold" to a "strong-buy" rating, with an average rating of "Buy" from two analysts.
• In its latest quarterly report, the company reported earnings per share of $0.70, exceeding expectations, but revenue fell slightly short at $10.23 billion.

Jeronimo Martins SGPS SA (OTCMKTS:JRONY - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $48.58, but opened at $47.04. Jeronimo Martins SGPS shares last traded at $47.04, with a volume of 951 shares.

Analysts Set New Price Targets

Separately, Citigroup upgraded Jeronimo Martins SGPS from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy".

Jeronimo Martins SGPS Stock Down 2.8%

The firm has a market capitalization of $14.86 billion, a PE ratio of 22.17, a P/E/G ratio of 1.45 and a beta of 0.89. The company has a quick ratio of 0.31, a current ratio of 0.57 and a debt-to-equity ratio of 0.14. The stock has a 50-day simple moving average of $49.48 and a 200-day simple moving average of $48.77.

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

About Jeronimo Martins SGPS

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.

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