Jeronimo Martins SGPS (OTCMKTS:JRONY) Sees Large Volume Increase – Here’s Why

Shares of Jeronimo Martins SGPS SA (OTCMKTS:JRONY) saw strong trading volume on Wednesday . Approximately 25,776 shares changed hands during mid-day trading, an increase of 7% from the previous session’s volume of 24,166 shares.The stock last traded at $39.49 and had previously closed at $40.03.

Analyst Upgrades and Downgrades

Several research firms have weighed in on JRONY. Royal Bank Of Canada initiated coverage on shares of Jeronimo Martins SGPS in a report on Monday, July 6th. They issued a “moderate buy” rating on the stock. Kepler Capital Markets upgraded shares of Jeronimo Martins SGPS from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 8th. Zacks Research downgraded Jeronimo Martins SGPS from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Barclays reaffirmed an “overweight” rating on shares of Jeronimo Martins SGPS in a research note on Friday, July 3rd. Finally, Citigroup reissued a “buy” rating on shares of Jeronimo Martins SGPS in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Jeronimo Martins SGPS Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.64 and a quick ratio of 0.35. The stock’s 50 day simple moving average is $39.25 and its two-hundred day simple moving average is $44.68. The stock has a market cap of $12.54 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 1.58 and a beta of 0.80.

Jeronimo Martins SGPS (OTCMKTS:JRONY) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.67 billion during the quarter, compared to the consensus estimate of $10.74 billion. As a group, research analysts forecast that Jeronimo Martins SGPS SA will post 2.69 EPS for the current 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.