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

Tesco PLC (LON:TSCO)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 425.46 and traded as high as GBX 455.10. Tesco shares last traded at GBX 452, with a volume of 12,168,487 shares.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. restated an “overweight” rating on shares of Tesco in a research report on Friday, October 3rd. Shore Capital reissued a “buy” rating on shares of Tesco in a research report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tesco from GBX 470 to GBX 495 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 440 price objective on shares of Tesco in a research note on Tuesday, October 28th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of GBX 461.25.

Tesco Price Performance

The stock has a 50 day moving average of GBX 450.81 and a two-hundred day moving average of GBX 425.46. The company has a debt-to-equity ratio of 126.35, a quick ratio of 0.60 and a current ratio of 0.81. The firm has a market capitalization of £29.11 billion, a P/E ratio of 19.91, a P/E/G ratio of 1.43 and a beta of 0.51.

Tesco (LON:TSCO) last announced its quarterly earnings results on Thursday, October 2nd. The retailer reported GBX 15.61 EPS for the quarter. Tesco had a return on equity of 11.33% and a net margin of 1.92%. Sell-side analysts predict 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.