Jeronimo Martins SGPS (OTCMKTS:JRONY) Shares Break Below 50-Day Moving Average - Here's Why

Key Points

• Jeronimo Martins SGPS shares fell below their 50-day moving average, trading as low as $38.40 versus the $40.68 average, and last changing hands at $38.59.
• Analysts remain broadly optimistic: the stock carries an average “Buy” rating, with recent upgrades from Jefferies to Buy and Kepler Capital Markets to Strong Buy.
• The company exceeded quarterly EPS expectations, reporting $0.72 per share versus the $0.60 estimate, although revenue of $10.67 billion came in slightly below consensus.

Jeronimo Martins SGPS SA (OTCMKTS:JRONY - Get Free Report) shares passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $40.68 and traded as low as $38.40. Jeronimo Martins SGPS shares last traded at $38.59, with a volume of 41,976 shares trading hands.

Analysts Set New Price Targets

Several research analysts have issued reports on JRONY shares. Royal Bank Of Canada began coverage on Jeronimo Martins SGPS in a research report on Monday, July 6th. They issued a "moderate buy" rating on the stock. Barclays reiterated an "overweight" rating on shares of Jeronimo Martins SGPS in a research note on Friday, July 3rd. Citigroup restated a "buy" rating on shares of Jeronimo Martins SGPS in a research report on Monday, August 10th. Jefferies Financial Group raised shares of Jeronimo Martins SGPS from a "hold" rating to a "buy" rating in a research note on Monday, September 21st. Finally, Kepler Capital Markets upgraded Jeronimo Martins SGPS from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. 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.com, the company has an average rating of "Buy".

Jeronimo Martins SGPS Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.35 and a current ratio of 0.64. The firm's 50 day simple moving average is $40.68 and its 200 day simple moving average is $42.19. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 1.73 and a beta of 0.77.

Jeronimo Martins SGPS (OTCMKTS:JRONY - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.12. The company had revenue of $10.67 billion during the quarter, compared to the consensus estimate of $10.74 billion. Jeronimo Martins SGPS had a net margin of 1.73% and a return on equity of 20.03%. Sell-side analysts forecast that Jeronimo Martins SGPS SA will post 2.53 earnings per share for the current fiscal year.

Jeronimo Martins SGPS Company Profile

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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