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

Sendas Distribuidora (NYSE:ASAI) posted its quarterly earnings data on Friday. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01), reports. The business had revenue of $3.35 billion during 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 opened at $6.16 on Monday. The stock has a 50-day moving average of $7.00 and a two-hundred day moving average of $9.37. Sendas Distribuidora has a one year low of $5.73 and a one year high of $15.25. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.45 and a current ratio of 0.84. The stock has a market cap of $1.67 billion, a P/E ratio of 13.39, a P/E/G ratio of 0.54 and a beta of 1.03.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ASAI shares. Hsbc Global Res raised Sendas Distribuidora to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America cut Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price objective for the company. in a research 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 price objective for the company. in a research report on Monday, September 9th.

Institutional Trading of Sendas Distribuidora

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in Sendas Distribuidora by 145.6% during the 3rd quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock worth $26,000 after acquiring an additional 2,203 shares during the period. SageView Advisory Group LLC acquired a new stake in Sendas Distribuidora during the 1st quarter worth about $69,000. Signaturefd LLC lifted its position in Sendas Distribuidora by 186.4% during the 3rd quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock worth $69,000 after acquiring an additional 6,567 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Sendas Distribuidora during the 3rd quarter worth about $77,000. Finally, Privium Fund Management B.V. lifted its position in Sendas Distribuidora by 26.3% during the 2nd quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock worth $122,000 after acquiring an additional 2,900 shares during the period. Institutional investors and hedge funds own 8.76% of the company’s stock.

About Sendas Distribuidora

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.