Tesco (LON:TSCO) Stock Passes Above 200 Day Moving Average – What’s Next?

Tesco PLC (LON:TSCO) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 433.21 and traded as high as GBX 443.60. Tesco shares last traded at GBX 443.60, with a volume of 11,230,441 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Tesco from GBX 450 to GBX 500 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 440 target price on shares of Tesco in a report on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Tesco from GBX 470 to GBX 495 and gave the company a “buy” rating in a research report on Friday, October 3rd. Finally, Shore Capital restated a “buy” rating on shares of Tesco in a research report on Thursday, October 2nd. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 473.75.

Tesco Price Performance

The company’s 50 day simple moving average is GBX 449.77 and its 200 day simple moving average is GBX 433.21. The company has a debt-to-equity ratio of 126.35, a current ratio of 0.81 and a quick ratio of 0.60. The stock has a market cap of £28.37 billion, a P/E ratio of 19.54, 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 earnings per share for the quarter. Tesco had a net margin of 1.92% and a return on equity of 11.33%. As a group, equities analysts forecast that Tesco PLC will post 27.374848 earnings per share 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.