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

Tesco PLC (LON:TSCO)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

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

Tesco Price Performance

The company has a quick ratio of 0.60, a current ratio of 0.59 and a debt-to-equity ratio of 131.55. The company has a market capitalization of £29.41 billion, a P/E ratio of 17.41, a P/E/G ratio of 1.43 and a beta of 0.57. The company’s 50-day simple moving average is GBX 458.64 and its 200 day simple moving average is GBX 460.59.

Tesco (LON:TSCO) last announced its quarterly earnings results on Thursday, April 16th. The retailer reported GBX 29.50 EPS for the quarter. The company had revenue of GBX 7,371 million for the quarter. Tesco had a net margin of 2.42% and a return on equity of 16.05%. As a group, sell-side analysts expect 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. Serving our customers, communities and planet a little better every day is what we do.