Tesco (OTCMKTS:TSCDY) Shares Gap Down – What’s Next?

Shares of Tesco PLC (OTCMKTS:TSCDY) gapped down prior to trading on Wednesday . The stock had previously closed at $18.4659, but opened at $17.80. Tesco shares last traded at $17.77, with a volume of 10,129 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TSCDY. Zacks Research lowered shares of Tesco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Barclays reiterated an “overweight” rating on shares of Tesco in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Tesco presently has an average rating of “Moderate Buy”.

Tesco Price Performance

The company has a 50-day moving average of $18.14 and a 200-day moving average of $16.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.64 and a quick ratio of 0.44.

Tesco Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, December 1st. Investors of record on Monday, October 13th will be issued a dividend of $0.1906 per share. This represents a dividend yield of 315.0%. The ex-dividend date is Friday, October 10th.

About Tesco

Tesco PLC, together with its subsidiaries, operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary. It offers grocery products through its stores, as well as online. The company is also involved in the food and drink wholesaling activities.