Tesco (LON:TSCO) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Tesco PLC (LON:TSCO) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 461.73 and traded as high as GBX 478.40. Tesco shares last traded at GBX 475.57, with a volume of 11,311,977 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on TSCO. Jefferies Financial Group restated a “hold” rating and set a GBX 430 price objective on shares of Tesco in a research note on Thursday, April 16th. Shore Capital Group restated a “buy” rating and issued a GBX 525 target price on shares of Tesco in a research note on Friday, June 12th. JPMorgan Chase & Co. boosted their price target on Tesco from GBX 480 to GBX 500 and gave the company an “overweight” rating in a report on Friday, April 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Tesco from GBX 500 to GBX 525 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 495.

Tesco Price Performance

The company has a debt-to-equity ratio of 131.55, a current ratio of 0.59 and a quick ratio of 0.60. The stock has a market capitalization of £30.16 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.43 and a beta of 0.57. The stock has a 50 day moving average price of GBX 458.75 and a 200-day moving average price of GBX 461.88.

Tesco (LON:TSCO) last announced its quarterly earnings data on Thursday, April 16th. The retailer reported GBX 29.50 earnings per share for the quarter. Tesco had a return on equity of 16.05% and a net margin of 2.42%.The company had revenue of GBX 7,371 million for the quarter. On average, analysts forecast that Tesco PLC will post 27.374848 earnings per share for the current year.

About Tesco

Tesco was built to be a champion for customers, serving them every day with affordable, healthy and sustainable food. Across the Group, our purpose is at the core of what we do: serving our customers, communities and planet a little better every day.
Our fantastic team of over 340,000 colleagues go above and beyond to serve our customers. We work hard to be a place where everyone is welcome, where all colleagues can be at their best and build the skills to grow their careers.