Tesco (LON:TSCO) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Tesco PLC (LON:TSCO) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 460.33 and traded as high as GBX 476.10. Tesco shares last traded at GBX 472.20, with a volume of 18,353,063 shares changing hands.

Analysts Set New Price Targets

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

Tesco Stock Down 0.2%

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 £29.23 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.43 and a beta of 0.57. The firm has a 50-day simple moving average of GBX 459.15 and a 200 day simple moving average of GBX 460.33.

Tesco (LON:TSCO) last released its quarterly earnings results 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, equities research analysts forecast that Tesco PLC will post 27.374848 EPS 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. 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.