Sendas Distribuidora Q2: High Leverage Overshadows Profitability [Seeking Alpha]
Sendas Distribuidora S.A. ADS (ASAI)
Company Research
Source: Seeking Alpha
Summary Despite improved margins from cost control and store maturation, the company's high leverage remains a concern, impacting profitability. Valuation shows a potential downside of 6.7%, making the shares unattractive; however, a potential merger with Grupo Mateus could alter the outlook. Overall, advise waiting for further deleveraging and developments regarding the merger before making any changes to the investment position. Smile/DigitalVision via Getty Images Investment Thesis I recommend holding Sendas Distribuidora (NYSE: ASAI ) shares after its Q2 results. The company reported mixed results, with a healthy 11.8% revenue growth and margin gains. However, there was a slowdown in same-store sales growth and profitability was negatively impacted by higher financial expenses, which makes me cautious and reiterate the recommendation from my last report The period after the results also saw rumors of a possible merger between Sendas Distribuidora and Grupo Mateus,
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High impacting Sendas Distribuidora S.A. ADS news events
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News
- Sendas Distribuidora S.A. (NYSE: ASAI) was downgraded by analysts at Bank of America Co. from a "buy" rating to a "neutral" rating.MarketBeat
- Sendas Distribuidora S.A. (NYSE: ASAI) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating.MarketBeat
- Brazil stocks higher at close of trade; Bovespa up 0.32% [Yahoo! Finance]Yahoo! Finance
- Sendas Distribuidora S.A. (ASAI) Q2 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
- Sendas Distribuidora S.A. (NYSE: ASAI) had its price target raised by analysts at JPMorgan Chase & Co. from $17.00 to $18.00. They now have an "overweight" rating on the stock.MarketBeat
ASAI
Sec Filings
- 9/23/24 - Form 6-K
- 9/12/24 - Form 6-K
- 9/11/24 - Form 6-K
- ASAI's page on the SEC website