Tesco (LON:TSCO) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Tesco PLC (LON:TSCO) passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Tesco from GBX 500 to GBX 525 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Shore Capital Group reaffirmed a “buy” rating and set a GBX 525 target price on shares of Tesco in a research report on Friday, June 12th. JPMorgan Chase & Co. upped their target price on shares of Tesco from GBX 480 to GBX 500 and gave the company an “overweight” rating in a research note on Friday, April 17th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a GBX 430 price target on shares of Tesco in a report on Thursday, April 16th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 488.

Tesco Trading Up 0.8%

The firm has a market capitalization of £29.64 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 1.43 and a beta of 0.57. The business has a 50-day moving average of GBX 458.41 and a two-hundred day moving average of GBX 461.73. The company has a quick ratio of 0.60, a current ratio of 0.59 and a debt-to-equity ratio of 131.55.

Tesco (LON:TSCO) last issued its quarterly earnings results on Thursday, April 16th. The retailer reported GBX 29.50 earnings per share (EPS) for the quarter. The firm had revenue of GBX 7,371 million for the quarter. Tesco had a return on equity of 16.05% and a net margin of 2.42%. Research analysts predict that Tesco PLC will post 27.374848 EPS for the current fiscal year.

Tesco Company Profile

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.