Tesco (OTCMKTS:TSCDY) Trading Up 1% - What's Next?

Key Points

• Tesco PLC shares increased by 1% to a price of $16.67 during mid-day trading, despite a decline of 47% in trading volume.
• Morgan Stanley has restated an "overweight" rating on the stock, which currently holds an average rating of "Buy" from research analysts.
• Tesco announced a significant increase in its dividend to $0.3636 per share, up from its previous amount of $0.17, resulting in a high dividend yield of 344.0%.

Shares of Tesco PLC (OTCMKTS:TSCDY - Get Free Report) were up 1% on Monday . The stock traded as high as $16.68 and last traded at $16.67. Approximately 107,062 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 200,547 shares. The stock had previously closed at $16.50.

Analysts Set New Price Targets

Separately, Morgan Stanley restated an "overweight" rating on shares of Tesco in a research note on Tuesday, June 3rd.

Tesco Price Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 0.64 and a quick ratio of 0.44. The company has a 50-day moving average price of $16.70 and a two-hundred day moving average price of $15.16.

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.