Tesco (LON:TSCO) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Tesco shares rose above their 200-day moving average during trading, a technical signal that can suggest improving momentum. The stock traded as high as GBX 478.40 and last changed hands at GBX 475.57.
• Analysts remain generally positive on Tesco, with four Buy ratings and one Hold rating. The average target price is GBX 488, with several firms recently raising their price targets to as high as GBX 525.
• The company reported quarterly EPS of GBX 29.50 on revenue of GBX 7.371 billion in its latest earnings release. Tesco also posted a 2.42% net margin and 16.05% return on equity.

Tesco PLC (LON:TSCO - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 461.73 and traded as high as GBX 478.40. Tesco shares last traded at GBX 475.57, with a volume of 11,311,977 shares.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group reissued a "hold" rating and set a GBX 430 price objective on shares of Tesco in a report on Thursday, April 16th. Shore Capital Group restated a "buy" rating and issued a GBX 525 target price on shares of Tesco in a report on Friday, June 12th. Deutsche Bank Aktiengesellschaft upped their target price on Tesco from GBX 500 to GBX 525 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. increased their price target on Tesco from GBX 480 to GBX 500 and gave the company an "overweight" rating in a report on Friday, April 17th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Tesco presently has an average rating of "Moderate Buy" and an average target price of GBX 488.

Tesco Stock Up 0.8%

The stock has a market cap of £29.64 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.43 and a beta of 0.57. The company has a current ratio of 0.59, a quick ratio of 0.60 and a debt-to-equity ratio of 131.55. The firm's fifty day moving average is GBX 458.41 and its 200 day moving average is GBX 461.73.

Tesco (LON:TSCO - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The retailer reported GBX 29.50 earnings per share (EPS) for the quarter. The company had revenue of GBX 7,371 million during the quarter. Tesco had a net margin of 2.42% and a return on equity of 16.05%. As a group, equities research analysts forecast that Tesco PLC will post 27.374848 EPS for the current year.

Tesco Company Profile

Tesco was built to be a champion for customers, serving them every day with affordable, healthy and sustainable food. Across the Group, our purpose is at the core of what we do: serving our customers, communities and planet a little better every day. Our fantastic team of over 340,000 colleagues go above and beyond to serve our customers. We work hard to be a place where everyone is welcome, where all colleagues can be at their best and build the skills to grow their careers.

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