Jeronimo Martins SGPS (OTCMKTS:JRONY) Shares Gap Down - Time to Sell?

Key Points

• Jeronimo Martins SGPS shares opened sharply lower, falling from a prior close of $40.91 to $38.19, amid very light trading volume of 280 shares.
• Despite the price decline, analyst sentiment remains positive: the stock has an average “Buy” rating, including one Strong Buy and four Buy recommendations, versus one Hold.
• The company exceeded quarterly EPS expectations, reporting $0.72 versus the $0.60 consensus estimate, while revenue of $10.67 billion came in slightly below the $10.74 billion forecast.

Jeronimo Martins SGPS SA (OTCMKTS:JRONY - Get Free Report) gapped down before the market opened on Thursday. The stock had previously closed at $40.91, but opened at $38.19. Jeronimo Martins SGPS shares last traded at $38.19, with a volume of 280 shares.

Analyst Ratings Changes

Several research analysts have weighed in on JRONY shares. Zacks Research raised shares of Jeronimo Martins SGPS from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 1st. Royal Bank Of Canada initiated coverage on Jeronimo Martins SGPS in a report on Monday, July 6th. They set a "moderate buy" rating for the company. Kepler Capital Markets upgraded Jeronimo Martins SGPS from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 8th. Barclays reaffirmed an "overweight" rating on shares of Jeronimo Martins SGPS in a report on Friday, July 3rd. Finally, Citigroup reiterated a "buy" rating on shares of Jeronimo Martins SGPS in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy".

Jeronimo Martins SGPS Price Performance

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 company's fifty day moving average price is $40.79 and its 200 day moving average price is $42.65. The company has a market capitalization of $12.55 billion, a P/E ratio of 16.97, a PEG ratio of 1.63 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.12. Jeronimo Martins SGPS had a return on equity of 20.03% and a net margin of 1.73%.The business had revenue of $10.67 billion for the quarter, compared to the consensus estimate of $10.74 billion. As a group, sell-side 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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