Jeronimo Martins SGPS (OTCMKTS:JRONY) Shares Cross Below 50 Day Moving Average Following Analyst Downgrade

Jeronimo Martins SGPS SA (OTCMKTS:JRONY) passed below its 50 day moving average during trading on Thursday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. 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 changing hands.

Several other brokerages also recently weighed in on JRONY. Kepler Capital Markets raised shares of Jeronimo Martins SGPS from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 8th. Barclays reissued an “overweight” rating on shares of Jeronimo Martins SGPS in a report on Friday, July 3rd. Jefferies Financial Group raised Jeronimo Martins SGPS from a “hold” rating to a “buy” rating in a research note on Monday, September 21st. Citigroup reiterated a “buy” rating on shares of Jeronimo Martins SGPS in a research report on Monday, August 10th. Finally, Royal Bank Of Canada began coverage on Jeronimo Martins SGPS in a research note on Monday, July 6th. They set a “moderate buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Jeronimo Martins SGPS Stock Performance

The company has a market capitalization of $12.08 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.77 and a beta of 0.77. 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 business’s fifty day simple moving average is $40.65 and its 200-day simple moving average is $42.16.

Jeronimo Martins SGPS (OTCMKTS:JRONY) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.60 by $0.12. Jeronimo Martins SGPS had a net margin of 1.73% and a return on equity of 20.03%. The business had revenue of $10.67 billion during the quarter, compared to the consensus estimate of $10.74 billion. As a group, equities analysts anticipate that Jeronimo Martins SGPS SA will post 2.53 earnings per share for the current fiscal 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.