Tesco (LON:TSCO) Hits New 52-Week High – What’s Next?

Tesco PLC (LON:TSCO)’s stock price hit a new 52-week high during trading on Thursday. The company traded as high as GBX 561 and last traded at GBX 560, with a volume of 112,374,477 shares changing hands. The stock had previously closed at GBX 553.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TSCO shares. Jefferies Financial Group restated a “hold” rating and issued a GBX 480 price objective on shares of Tesco in a report on Thursday, October 8th. Shore Capital Group reiterated a “hold” rating and set a GBX 480 target price on shares of Tesco in a research note on Thursday, October 8th. JPMorgan Chase & Co. dropped their target price on Tesco from GBX 500 to GBX 490 and set an “overweight” rating on the stock in a report on Wednesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Tesco from GBX 525 to GBX 550 and gave the company a “buy” rating in a research note on Friday, October 9th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 500.

Tesco Stock Up 1.1%

The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 127.34. The firm’s fifty day moving average is GBX 495.67 and its 200-day moving average is GBX 473.46. The stock has a market capitalization of £34.84 billion, a PE ratio of 20.64, a PEG ratio of 1.43 and a beta of 0.57.

Tesco (LON:TSCO) last posted its quarterly earnings results on Thursday, October 8th. The retailer reported GBX 17.50 earnings per share for the quarter. Tesco had a return on equity of 16.45% and a net margin of 2.53%. On average, equities research analysts predict that Tesco PLC will post 27.37 earnings per share for the current year.

About Tesco

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.