Tesco (LON:TSCO) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Tesco PLC (LON:TSCO)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 459.24 and traded as high as GBX 466.40. Tesco shares last traded at GBX 461.85, with a volume of 17,550,531 shares changing hands.

Wall Street Analysts Forecast Growth

TSCO has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on Tesco from GBX 480 to GBX 500 and gave the company an “overweight” rating in a report on Friday, April 17th. 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. Deutsche Bank Aktiengesellschaft upped their price target on Tesco from GBX 500 to GBX 525 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Jefferies Financial Group reissued a “hold” rating and issued a GBX 430 price objective on shares of Tesco in a report on Thursday, April 16th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 488.

Tesco Trading Up 0.2%

The company has a market cap of £29.13 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 1.43 and a beta of 0.58. The company has a quick ratio of 0.60, a current ratio of 0.59 and a debt-to-equity ratio of 131.55. The firm’s 50-day moving average price is GBX 462.06 and its 200-day moving average price is GBX 459.24.

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

About Tesco

Tesco was built to be a champion for customers, serving them every day with affordable, healthy and sustainable food. Our commitment to our customers extends beyond our stores, and into every community we serve – in the UK, Republic of Ireland, Slovakia, the Czech Republic and Hungary. We invest in communities to help them thrive, through supporting schools and children’s groups, food banks and other good causes.

In challenging times, our purpose has guided every part of the Group. Serving our customers, communities and planet a little better every day is what we do.