Jeronimo Martins SGPS (OTCMKTS:JRONY) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Jeronimo Martins SGPS SA (OTCMKTS:JRONY)’s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $46.72 and traded as low as $43.4070. Jeronimo Martins SGPS shares last traded at $43.4070, with a volume of 24,311 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered Jeronimo Martins SGPS from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Jeronimo Martins SGPS currently has a consensus rating of “Hold”.

Jeronimo Martins SGPS Stock Down 1.1%

The firm has a 50 day simple moving average of $46.41 and a two-hundred day simple moving average of $48.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.33 and a current ratio of 0.58. The stock has a market cap of $13.26 billion, a P/E ratio of 17.85, a P/E/G ratio of 1.44 and a beta of 0.84.

Jeronimo Martins SGPS (OTCMKTS:JRONY) last announced its earnings results on Wednesday, May 6th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). The business had revenue of $10.42 billion for the quarter, compared to the consensus estimate of $10.40 billion. Jeronimo Martins SGPS had a net margin of 1.75% and a return on equity of 21.29%. Equities research analysts predict that Jeronimo Martins SGPS SA will post 2.91 earnings per share for the current 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.