Sendas Distribuidora (NYSE:ASAI) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Sendas Distribuidora (NYSE:ASAI) announced its quarterly earnings results on Friday. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01), reports. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.57 billion. Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%.

Sendas Distribuidora Stock Performance

Shares of ASAI stock opened at $6.16 on Friday. Sendas Distribuidora has a 1-year low of $5.73 and a 1-year high of $15.25. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 0.54 and a beta of 1.03. The company has a current ratio of 0.84, a quick ratio of 0.45 and a debt-to-equity ratio of 4.18. The stock’s fifty day simple moving average is $7.00 and its 200-day simple moving average is $9.40.

Wall Street Analysts Forecast Growth

ASAI has been the subject of several recent analyst reports. Hsbc Global Res upgraded shares of Sendas Distribuidora to a “strong-buy” rating in a research note on Tuesday, September 24th. Bank of America downgraded shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price target for the company. in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. cut Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price on the stock. in a report on Monday, September 9th.

Institutional Trading of Sendas Distribuidora

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of Sendas Distribuidora by 145.6% during the 3rd quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock valued at $26,000 after buying an additional 2,203 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Sendas Distribuidora in the 1st quarter valued at $69,000. Signaturefd LLC boosted its holdings in Sendas Distribuidora by 186.4% in the third quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock worth $69,000 after purchasing an additional 6,567 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Sendas Distribuidora during the third quarter worth $77,000. Finally, Privium Fund Management B.V. raised its holdings in Sendas Distribuidora by 26.3% during the second quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock valued at $122,000 after buying an additional 2,900 shares in the last quarter. 8.76% of the stock is currently owned by hedge funds and other institutional investors.

Sendas Distribuidora Company Profile

Sendas Distribuidora SA engages in the retail and wholesale sale of food products, bazaar items, and other products in Brazil. The company serves restaurants, pizzerias, snack bars, schools, small businesses, religious institutions, hospitals, hotels, grocery stores, neighborhood supermarkets, and individuals.