Jeronimo Martins SGPS (OTCMKTS:JRONY) Shares Gap Up - Here's What Happened

Key Points

• Jeronimo Martins SGPS shares gapped up before the open, rising from a prior close of $37.64 to an opening price of $39.19 and last trading around $39.13.
• Analyst sentiment is mixed but leans positive, with several firms issuing buy or overweight ratings, while Zacks Research downgraded the stock to strong sell; MarketBeat shows an average rating of Moderate Buy.
• The company’s latest earnings missed EPS expectations at $0.44 versus $0.48 expected, though revenue slightly beat estimates at $10.42 billion; analysts currently expect full-year EPS of $2.74.

Jeronimo Martins SGPS SA (OTCMKTS:JRONY - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $37.64, but opened at $39.19. Jeronimo Martins SGPS shares last traded at $39.1250, with a volume of 1,692 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays restated an "overweight" rating on shares of Jeronimo Martins SGPS in a report on Friday, July 3rd. Kepler Capital Markets raised shares of Jeronimo Martins SGPS from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 8th. Royal Bank Of Canada began coverage on shares of Jeronimo Martins SGPS in a report on Monday, July 6th. They set a "moderate buy" rating for the company. Zacks Research downgraded shares of Jeronimo Martins SGPS from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. Finally, Citigroup reiterated a "buy" rating on shares of Jeronimo Martins SGPS in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

Jeronimo Martins SGPS Stock Up 3.6%

The firm has a fifty day simple moving average of $40.32 and a 200-day simple moving average of $45.70. The company has a market capitalization of $12.27 billion, a PE ratio of 16.52, a P/E/G ratio of 1.45 and a beta of 0.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.35 and a current ratio of 0.64.

Jeronimo Martins SGPS (OTCMKTS:JRONY - Get Free Report) last released 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 business had revenue of $10.42 billion for the quarter, compared to analysts' expectations of $10.40 billion. Jeronimo Martins SGPS had a net margin of 1.75% and a return on equity of 20.28%. Equities research analysts anticipate that Jeronimo Martins SGPS SA will post 2.74 EPS for the current fiscal year.

About Jeronimo Martins SGPS

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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