Tesco’s (TSCO) Overweight Rating Reiterated at Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Tesco (LON:TSCOGet Rating) in a report published on Thursday morning, Marketbeat Ratings reports.

TSCO has been the subject of several other reports. JPMorgan Chase & Co. restated an overweight rating and issued a GBX 330 ($4.30) price objective on shares of Tesco in a research note on Wednesday, January 5th. Shore Capital reiterated a buy rating on shares of Tesco in a research report on Monday. Barclays reissued an overweight rating and issued a GBX 325 ($4.24) price objective on shares of Tesco in a report on Wednesday. Finally, Berenberg Bank raised their price objective on Tesco from GBX 308 ($4.01) to GBX 327 ($4.26) and gave the company a buy rating in a report on Monday, January 31st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tesco has a consensus rating of Buy and a consensus price target of GBX 320.50 ($4.18).

Shares of LON:TSCO opened at GBX 266.30 ($3.47) on Thursday. Tesco has a 52-week low of GBX 219.40 ($2.86) and a 52-week high of GBX 304.10 ($3.96). The stock has a market cap of £20.31 billion and a price-to-earnings ratio of 3.15. The company has a quick ratio of 0.59, a current ratio of 0.76 and a debt-to-equity ratio of 116.80. The business has a 50-day moving average price of GBX 280.98 and a 200-day moving average price of GBX 280.94.

The company also recently disclosed a dividend, which will be paid on Friday, June 24th. Investors of record on Thursday, May 19th will be issued a GBX 7.70 ($0.10) dividend. This represents a dividend yield of 2.85%. The ex-dividend date of this dividend is Thursday, May 19th. This is an increase from Tesco’s previous dividend of $3.20. Tesco’s payout ratio is currently 0.12%.

About Tesco (Get Rating)

Tesco PLC, together with its subsidiaries, engages in retailing and retail banking activities. It provides food products in stores and online; and operates mobile virtual network. The company is also involved in the food wholesaling activities; and provision of banking, insurance, and money services.

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