Jeronimo Martins SGPS (OTCMKTS:JRONY) Stock Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Jeronimo Martins SGPS shares rose above their 50-day moving average, reaching $41.99 and closing at $41.73, compared with a 50-day average of $39.31.
• Analyst sentiment is generally positive, with MarketBeat reporting an average “Moderate Buy” rating; recommendations include overweight, buy, strong-buy, and one strong sell.
• The company exceeded quarterly earnings expectations, reporting $0.72 EPS versus the $0.60 estimate, while revenue of $10.67 billion fell slightly short of the $10.74 billion consensus forecast.

Jeronimo Martins SGPS SA (OTCMKTS:JRONY - Get Free Report) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $39.31 and traded as high as $41.99. Jeronimo Martins SGPS shares last traded at $41.73, with a volume of 8,727 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays reaffirmed an "overweight" rating on shares of Jeronimo Martins SGPS in a research report on Friday, July 3rd. Citigroup reiterated a "buy" rating on shares of Jeronimo Martins SGPS in a report on Monday, August 10th. Zacks Research downgraded shares of Jeronimo Martins SGPS from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 8th. Kepler Capital Markets upgraded shares of Jeronimo Martins SGPS from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada initiated coverage on shares of Jeronimo Martins SGPS in a research report on Monday, July 6th. They issued a "moderate buy" rating for the company. One investment 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 company. According to MarketBeat, Jeronimo Martins SGPS has an average rating of "Moderate Buy".

Jeronimo Martins SGPS Stock Performance

The company has a market cap of $13.13 billion, a PE ratio of 17.76, a PEG ratio of 1.67 and a beta of 0.80. 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 moving average is $39.31 and its 200-day moving average is $44.15.

Jeronimo Martins SGPS (OTCMKTS:JRONY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.72 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $10.74 billion. On average, research analysts anticipate that Jeronimo Martins SGPS SA will post 2.69 earnings per share for the current fiscal year.

Jeronimo Martins SGPS Company Profile

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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