Tesco (OTCMKTS:TSCDY) Shares Gap Down - Should You Sell?

Key Points

• Tesco PLC shares opened at $17.59, down from a previous close of $18.35, indicating market volatility.
• Despite the dip, analysts have a favorable outlook with an average rating of "Buy" and several upgrades, including a "strong-buy" from Zacks Research.
• The company has announced a dividend of $0.1906 per share, which will yield approximately 315.0% for investors of record by October 13th.

Tesco PLC (OTCMKTS:TSCDY - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $18.35, but opened at $17.59. Tesco shares last traded at $18.31, with a volume of 1,373 shares.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TSCDY. Zacks Research upgraded Tesco from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Barclays reissued an "overweight" rating on shares of Tesco in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Tesco currently has an average rating of "Buy".

Tesco Stock Performance

The company has a current ratio of 0.64, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average of $17.58 and a 200 day moving average of $16.11.

Tesco Cuts Dividend

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

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.

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