Tesco (OTCMKTS:TSCDY) Shares Gap Down – Here’s What Happened

Shares of Tesco PLC (OTCMKTS:TSCDY) gapped down prior to trading on Friday . The stock had previously closed at $17.94, but opened at $17.25. Tesco shares last traded at $18.0150, with a volume of 769 shares.

Wall Street Analyst Weigh In

TSCDY has been the subject of a number of analyst reports. Jefferies Financial Group lowered Tesco from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Citigroup reissued a “buy” rating on shares of Tesco in a research report on Thursday, December 11th. Zacks Research cut shares of Tesco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Tesco in a report on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Tesco Price Performance

The firm’s fifty day moving average price is $18.05 and its two-hundred day moving average price is $17.55. The company has a current ratio of 0.60, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45.

Tesco Cuts Dividend

The company also recently disclosed a dividend, which was paid on Monday, December 1st. Investors of record on Monday, October 13th were issued a $0.1906 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a dividend yield of 315.0%.

Tesco Company Profile

Tesco PLC is a British multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, Hertfordshire. Founded in 1919 by Jack Cohen as a market stall, the company expanded into a nationwide chain of supermarkets and has grown into one of the largest retailers in the United Kingdom. Tesco operates a range of store formats designed to serve different customer needs, including large-format hypermarkets, standard supermarkets and smaller convenience stores, along with an extensive online grocery and home delivery service.

The company’s core activities include the retail sale of food and non-food products, development and distribution of own-label ranges (from value to premium), and provision of convenience and fuel forecourt services.