Jeronimo Martins SGPS (OTCMKTS:JRONY) Shares Cross Below 50 Day Moving Average – Here’s Why

Jeronimo Martins SGPS SA (OTCMKTS:JRONY) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $48.49 and traded as low as $46.7250. Jeronimo Martins SGPS shares last traded at $47.36, with a volume of 4,095 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Kepler Capital Markets raised Jeronimo Martins SGPS from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Jeronimo Martins SGPS Stock Down 0.1%

The company has a market cap of $14.90 billion, a P/E ratio of 20.96, a P/E/G ratio of 1.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.58 and a quick ratio of 0.33. The company’s 50-day moving average is $48.49 and its two-hundred day moving average is $49.35.

Jeronimo Martins SGPS (OTCMKTS:JRONY) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.02. Jeronimo Martins SGPS had a return on equity of 21.15% and a net margin of 1.83%.The business had revenue of $10.66 billion for the quarter, compared to analysts’ expectations of $10.61 billion. As a group, equities analysts predict that Jeronimo Martins SGPS SA will post 2.13 earnings per share for the current fiscal year.

About Jeronimo Martins SGPS

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.