Tesco (LON:TSCO) Sets New 12-Month High – Here’s Why

Shares of Tesco PLC (LON:TSCO) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 466 and last traded at GBX 465.40, with a volume of 40297074 shares traded. The stock had previously closed at GBX 460.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Shore Capital reiterated a “buy” rating on shares of Tesco in a research report on Thursday, October 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 440 price objective on shares of Tesco in a research report on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft increased their price objective on Tesco from GBX 470 to GBX 495 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Citigroup increased their price objective on Tesco from GBX 395 to GBX 460 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Tesco in a research report on Friday, October 3rd. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Tesco has an average rating of “Buy” and an average price target of GBX 461.25.

Tesco Price Performance

The firm’s 50-day moving average is GBX 442.21 and its 200-day moving average is GBX 412.94. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 126.35. The company has a market capitalization of £30.16 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

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

About Tesco

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.