Jeronimo Martins SGPS (OTCMKTS:JRONY) Sees Large Volume Increase - What's Next?

Key Points

• Trading volume jumped 41% to 35,057 shares, while Jeronimo Martins SGPS traded near $40.86, close to its prior close of $40.91.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Buy” rating, with recent upgrades from Jefferies to Buy and Kepler Capital Markets to Strong Buy.
• The company’s latest quarterly earnings exceeded expectations, with EPS of $0.72 versus the $0.60 consensus, although revenue of $10.67 billion came in slightly below the $10.74 billion estimate.

Jeronimo Martins SGPS SA (OTCMKTS:JRONY - Get Free Report) shares saw unusually-high trading volume on Wednesday. 35,057 shares changed hands during mid-day trading, an increase of 41% from the previous session's volume of 24,901 shares. The stock last traded at $40.86 and had previously closed at $40.91.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on JRONY shares. Jefferies Financial Group raised Jeronimo Martins SGPS from a "hold" rating to a "buy" rating in a research report on Monday, September 21st. 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 started coverage on shares of Jeronimo Martins SGPS in a research note on Monday, July 6th. They set a "moderate buy" rating for the company. Citigroup reiterated a "buy" rating on shares of Jeronimo Martins SGPS in a research report on Monday, August 10th. Finally, Barclays restated an "overweight" rating on shares of Jeronimo Martins SGPS in a report on Friday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy".

Jeronimo Martins SGPS Price Performance

The company's 50-day moving average price is $40.75 and its 200-day moving average price is $42.72. The company has a quick ratio of 0.35, a current ratio of 0.64 and a debt-to-equity ratio of 0.14. The firm has a market cap of $12.85 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.65 and a beta of 0.79.

Jeronimo Martins SGPS (OTCMKTS:JRONY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.12. The firm 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, equities research analysts forecast that Jeronimo Martins SGPS SA will post 2.69 EPS for the current 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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