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

Key Points

• Tesco PLC shares surpassed their 200-day moving average during trading, reaching a high of GBX 443.30 ($5.94) and maintaining a trading volume of over 13 million shares.
• Several analysts have given Tesco a buy rating, with Citigroup increasing their target price from GBX 395 to GBX 460, and Deutsche Bank raising it from GBX 470 to GBX 495.
• The company's latest earnings report revealed an EPS of GBX 15.61 for the quarter, while analysts anticipate an EPS of 27.37 for the current fiscal year.

Tesco PLC (LON:TSCO - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 403.39 ($5.41) and traded as high as GBX 443.30 ($5.94). Tesco shares last traded at GBX 443.30 ($5.94), with a volume of 13,718,477 shares changing hands.

Analysts Set New Price Targets

TSCO has been the topic of a number of research reports. JPMorgan Chase & Co. reiterated an "overweight" rating on shares of Tesco in a report on Friday, October 3rd. Citigroup upped their target price on Tesco from GBX 395 to GBX 460 and gave the company a "buy" rating in a report on Friday, July 18th. Shore Capital reiterated a "buy" rating on shares of Tesco in a report on Thursday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Tesco from GBX 470 to GBX 495 and gave the company a "buy" rating in a report on Friday, October 3rd. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of GBX 468.33.

Tesco Trading Up 0.3%

The firm has a market cap of £28.79 billion, a P/E ratio of 19.59, a PEG ratio of 1.43 and a beta of 0.51. The company has a 50 day moving average of GBX 434.89 and a 200 day moving average of GBX 403.39. The company has a debt-to-equity ratio of 126.35, a quick ratio of 0.60 and a current ratio of 0.81.

Tesco (LON:TSCO - Get Free Report) last announced its quarterly earnings results on Thursday, October 2nd. The retailer reported GBX 15.61 EPS for the quarter. Tesco had a return on equity of 11.33% and a net margin of 1.92%. Analysts predict that Tesco PLC will post 27.374848 EPS for the current fiscal year.

Tesco Company Profile

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.

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