JUMBO (BELA) Comprehensive AnalysisThe JUMBO stock recorded a significant drop of 1.90% yesterday, closing at 24.72 euros, which is the lowest level in the last six months . The dividend cut has affected the stock price, but forecasts from major analysts indicate significant upside potential.
Last Closing Price: 24.72 euros
52-Week High/Low: 32.60 euros / 24.72 euros
Economic Analysis
Jumbo maintains a high dividend policy for 2024 despite market challenges. The company distributes 3% of its shares, with Apostolos Vakakis reducing his stake to 16.3%. The high dividend yield, combined with the expansion of the store network, enhances the attractiveness of the stock.
Expected Dividend Yield: 9.1%
2024 Revenue Growth Estimate: 4%-8%
Expected 2024 Earnings: Stable or slightly increased
Lowering Revenue and Profit Targets – Warning of Possible Revision
Jumbo informed investors that group sales increased by approximately 8% in the first half of the year, with a +9% increase recorded in June compared to the same month last year. Nevertheless, the company sets the bar for revenue and profit growth for the year at the lower end of the initial estimate of 8%-10%.
Jumbo warns that if current conditions worsen, which is reasonably expected, the sales growth rate could be limited to +4% with profitability hovering at 2023 levels.
Factors Affecting the Estimate
Commenting on the business environment, the company mentions that the situation in the Middle East, with the "closure" of the Suez Canal, although initially temporary, will continue to affect the global supply chain likely even after the elections in America. The current global trade situation resembles the pandemic crisis, with transportation costs skyrocketing and delivery times doubling.
Jumbo refuses to pass the burden of supply chain disruptions onto consumer prices. The company's strategy remains clear: it does not intend to offer overpriced products, as it estimates that the situation will reverse by the end of 2024 or 2025.
Jumbo's Strategy
Jumbo chooses products that meet the needs and capabilities of consumers. Faced with the dilemma of a product that includes the cost of disruptions and another with manageable costs, the company chooses the latter. This strategy is expected to lead to an increase in Jumbo's market share in the markets it operates, despite the expected reduction in inventory by the end of the year.
First Half 2024 Performance
Group sales increased by approximately +8% in the first half of 2024. In June 2024, sales recorded an increase of +9% compared to the same month last year.
Detailed sales performance by country:
Greece: Net sales increase of +6% in June 2024 and +7% for the first half.
Cyprus: Sales increase of +6% in June 2024 and +4% for the first half.
Bulgaria: Sales increase of +19% in June 2024 and +11% for the first half.
Romania: Sales increase of +17% in June 2024 and +14% for the first half.
Store Network Expansion
As of June 30, 2024, the JUMBO Group had 86 stores: 53 in Greece, 5 in Cyprus, 10 in Bulgaria, and 18 in Romania, with online stores in Greece, Cyprus, and Romania. By the end of 2024, two new superstores are expected to open in Nicosia and Bucharest. The opening of the new superstore in Timisoara is postponed to the first quarter of 2025.
Through partnerships, the group has a presence with 36 stores in 7 countries: Albania, Kosovo, Serbia, North Macedonia, Bosnia, Montenegro, and Israel. A second store in Israel is expected to start operating in August 2024.
It is reminded that on July 16, 2024, the dividend from the 2023 earnings, amounting to 1 Euro per share (gross), will be paid.
Citi and Pantelakis Securities See Over 20% Upside Potential for the Stock
Citi and Pantelakis Securities predict more than 20% upside potential for Jumbo stock, despite the recent downgrade of the guidance from the company's management for the 2024 results.
Citi Estimates
Citi maintains the target price at €32.5, with an estimated upside of 23.9% from current levels. Combined with the dividend yield expected to reach 9.1%, the total return is estimated to reach 33%. The investment bank issues a buy recommendation for the stock.
The target price of €32.5 derives from the average valuation based on the EV/EBITDA multiple, estimating that Jumbo will trade at 9 times the EV/EBITDA ratio for 2025 with a slight premium compared to the 5-year average, and from the discounted cash flow method. The target price implies approximately 14 times the P/E ratio for 2024, according to Citi.
Pantelakis Securities Estimates
Pantelakis Securities sets the target price at €36, with an estimated upside of 37%. They give an overweight recommendation and highlight that Jumbo is attractively priced at 10.1 times the P/E ratio for 2025 and 6.8 times the EV/EBITDA ratio.
Pantelakis Securities calculates that the market at current levels discounts a long-term drop in the EBITDA margin to 17.8% from 36.8% in 2023, which is not justified. Furthermore, they mention that the strong cash flow performance in 2025 at 8% and the generous and sustainable dividend payments (6.9%) further enhance Jumbo's valuation attractiveness.
Conclusion
Despite the downgrade of the guidance from Jumbo's management for the 2024 results, both Citi and Pantelakis Securities see significant upside potential for the company's stock. Their forecasts are based on stable valuations and estimates for strong cash flows and sustainable dividend yields, making Jumbo stock an attractive choice for investors.
Detailed Report
Jumbo, one of the leading retailers in Greece, operates in the sale of toys, baby products, gift items, household goods, stationery, seasonal and decorative items, books, and related products in Greece, Cyprus, Bulgaria, and Romania. This analysis focuses on the financial data and technical indicators of Jumbo S.A.'s stock, providing a comprehensive overview for investors and analysts.
Technical Analysis
Open: €25.24
High: €25.24
Low: €24.72
Close: €24.72
Moving Averages (EMA):
EMA 20: €25.52
EMA 50: €26.05
EMA 100: €26.42
EMA 200: €26.54
Jumbo's stock price is below all major moving averages, indicating a downward trend in the short, medium, and long-term horizons.
Relative Strength Index (RSI):
RSI (14): 31.23, indicating that the stock is in the oversold zone.
MACD:
Histogram: 0.0070
MACD: -0.3640
Signal: -0.3711
The MACD indicates bearish momentum, with the MACD line below the signal line.
Pivot Points
Support Levels:
S1: €24.82
S2: €24.30
S3: €23.84
Resistance Levels:
R1: €25.89
R2: €26.26
R3: €26.78
The stock price is near the first support level, indicating potential reversal points.
Financial Data
Key Statistics:
Market Capitalization: €3.43B
Trading Volume: 123.75K (30-day average volume: 173.45K)
P/E Ratio: 11.3x (below the Greek market average)
Revenue Estimate: €34.14
Analyst Forecasts:
Highest Estimate: €38.00
Lowest Estimate: €31.10
Average Estimate: €34.14
Analysts predict a 38.12% increase in stock price over the next year, based on current performance and future prospects.
Valuation Estimate
Jumbo's stock appears undervalued compared to its intrinsic value, based on analyst forecasts and market prices.
Future Growth
Key Information:
Earnings Growth Rate: 5.8% annually
Revenue Growth Rate: 7.1% annually
Expected Return on Equity: 23.8% in 3 years
Recent Updates:
Target price increased by 7.7% to €33.89 (May 23)
Target price increased by 7.3% to €33.76 (May 6)
Target price increased by 8.1% to €28.50 (August 11)
Target price increased by 8.4% to €27.64 (June 27)
Past Performance
Key Information:
Earnings Growth Rate: 14.2% annually
EPS Growth Rate: 14.2% annually
Revenue Growth Rate: 6.2% annually
Return on Equity: 22.8%
Net Margin: 28.0%
Jumbo has shown strong performance in previous years, with steady earnings and revenue growth, and high return on equity.
Jumbo S.A. demonstrates solid performance and has good growth prospects. Despite the recent drop in stock price, analysts remain positive about the company's future, with predictions for significant stock price increase over the next year. The company continues to invest in new markets and improve the efficiency of its existing operations, making it an attractive choice for investors.
Bela
₿ Bella 1D ₿ : 23.Nov.2021 (BEL)This analysis is a review of the # BELUSDT daily chart and we can expect good growth from this Cryptocurrency considering its movement and reaction to the price range in which it is located. (Buy Recommendation) But Always do your own research (DYOR)
BEL Price Live Data
The live Bella Protocol price today is $2.40 USD with a 24-hour trading volume of $29,715,366 USD. We update our BEL to USD price in real-time. Bella Protocol is up 12.43% in the last 24 hours. The current CoinMarketCap ranking is #447, with a live market cap of $115,323,964 USD. It has a circulating supply of 48,000,000 BEL coins and a max. supply of 100,000,000 BEL coins.
coinmarketcap.com
Follow our other analysis & Feel free to ask any questions you have, we are here to help.
⚠️ This Analysis will be updated ...
👤 Arman Shaban : @Ar_M_An_4
📅 23.Nov.2021
⚠️(DYOR)
❤️ To give us energy and motivation , please like and leave a comment. ❤️
BEL/BTC (Bear Break?)💎Technical Analysis Summary💎
BINANCE: BELBTC
-BEL broke the major support at the 2100s sat range
-I recommend reducing the risk or close Buy positions
-Because there is no valid strong support until 7k sat area
-I don't advice to catch a falling knife here
-Wait for price discover or reversal signals
``````````````````````````````````````````````
Trading Involves High Risk
Not Financial Advice
Please Exercise Risk Management
``````````````````````````````````````````````
If You Like My Daily Published Ideas
A little Help By Supporting My Channel
Through Leaving A Thumbs Up, Comment & Follow
Happy Trading! --> Thank You! :)
``````````````````````````````````````````````
Bela try to move inside price channelPOLONIEX:BELABTC Try to move up to inside price channel
if go on we will see 400% profit
POLONIEX:BELABTC will reach to 8000
share us your idea and future for BELA
follow me now to get recently ideas
join us on Free Telegram Channel
t.me
***This is not a recommendation to buy or sell***
$bela long- oversold
- closing in on golden cross 1D interval
- rejected massively low price, likely to swing back up towards the middle of the band
BELABTC BelaCoin. Woke UpMy idea is that BELABTC has changed it's downtrend by breaking 50 days MA line, that' s a good signal for possible trend change. I would recommend to buy that coin for this week, because it will have updated Roadmap and it was on such deep price for long time. Sell targets 4k, 5k and for midterm 7k 8k. Good Luck !
If you pay attention to DM indicator, bullish line is going upward and red line (meaning power of trend) is also moving upward.
BELADouble bottom. Somewhat of a bull div. Looks like downward momentum is weakening hence the "div". Needs to hold 3300 else look for better entry. 1890 would be optimal buy imo. A break and bounce off of 5000 would be most safe entry imo. Could consolidate for sometime before a move.
Easy BELA doubleGood coin, not the best, but in need of a rebound, sitting on the trendline and fibs look good.
Hold until 17'000 sats, then sell if it fails to break the previous high.
LONG on BELACION BELA/BTC 7:1 REWARD RISK ratioSimilair setup to STEEM on my published idea before, i believe it has strong probability of bouncing back due to the strong support on 0.00008 - 0.000085 line.
I believe this is a pretty good entry point and reward risk ratio is also 7:1.
BelaCoin BELABTC 60min chartWatching for a quick breakout into next week.
belacoin.org
coinmarketcap.com
BELA COINWith the release of the social media app and the new SNAP CHAT IPO mirroring, this app/coin will reach a mid to late 2017 target of .00045 - where we go after that depends on the adoption of the platform and coin.
Where next for BELA?Introduction - What is BELA?
Belacoin (BELA) is a crypto-currency token that considerably interests me just now because it currently has real-world application in the form of a chess game - Bellachess - which is available to download from the Google Play Appstore, and pays out BELA when you win a game.
The development team also have the intention to integrate the currency into any number of future projects, the most important to-date is the (still under development) photo sharing App - BelaCam. Which will pay users when people Like their photo uploads.
You can read more about both projects here - www.belacoin.org
It doesn't take much imagination to see how profoundly important and potentially profitable the BelaCam application in particular could be for investors/holders of Belacoin when we look at the user base of popular applications such as Instagram and SnapChat, and exactly how much they are valued at. Alongside these platforms, Facebook and Twitter are also still heavily image-sharing based. What separates BelaCam from all of these platforms is the use of blockchain technology and payment to users for sharing their content. That is the 'unique selling point', and 'killer-app' if you will which could help spur rapid adoption and thus an increase in BELA value.
BELA Price Rise
Between the 21st and 25th of February the price of BELA climbed rapidly from 0.00002688 up to 0.00006889 - a 256% increase in value, and a new all time high.
The main reason for the rise can be attributed to online posts from the development team that:
(1.) Closed Alpha testing was underway,
(2.) Screenshots of the product would be soon made available / marketing blitz,
(3.) Listing on Bittrex had been officially applied for.
So far, it looks like the price was pumped up on this hype into a bubble, which has subsequently burst. We can see by looking at the attached chart that the price is now working its way down through a Fibonacci retracement (78,6%... 61.8%... 50%?...).
Support Line A
We've seen a bounce off Support Line A, not falling quite as far as 50%, and returning to the 61.8% level. We need to watch this area closely for an indication of whether the retracement will further continue downwards. We are currently seeing a tug of war at this area. This will likely be guided over the next couple of days as the hype and release of marketing material hits social media. A successful marketing campaign should help keep the price above this level. So could a slip in Bitcoin price.
Support Line B
The next significant key area we should be looking at for the possibility of a bounce is at the 50% mark. This currently looks like the most likely area that we'll see a turnaround if support at 61.8% fails, with a likely bottom of Support Line B. Firstly, we could see prices drop to this area if the marketing material doesn't live up to the hype, secondly we could witness the effects of "buy on rumour, sell on news", lastly, we could see some continued pressure from the rise in Bitcoin price.
Support Line C
There is also the possibility that factors mentioned above could put exceptionally heavy pressure on BELA. In which case a drop to find a bottom at Support Line C - which is the long-term support line remains, though currently unlikely, a possibility.