Tesco (LON:TSCO) Reaches New 1-Year High – Time to Buy?

Tesco PLC (LON:TSCO) shares hit a new 52-week high during trading on Wednesday. The company traded as high as GBX 523.80 and last traded at GBX 523.49, with a volume of 32,230,980 shares trading hands. The stock had previously closed at GBX 517.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Tesco from GBX 500 to GBX 490 and set an “overweight” rating on the stock in a report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft increased their target price on Tesco from GBX 525 to GBX 550 and gave the company a “buy” rating in a research note on Friday, October 9th. Shore Capital Group restated a “hold” rating and issued a GBX 480 target price on shares of Tesco in a research note on Thursday, October 8th. Finally, Jefferies Financial Group reissued a “hold” rating and set a GBX 480 price objective on shares of Tesco in a report on Thursday, October 8th. 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 MarketBeat, Tesco presently has an average rating of “Moderate Buy” and a consensus price target of GBX 500.

Tesco Stock Up 1.3%

The company has a debt-to-equity ratio of 127.34, a quick ratio of 0.60 and a current ratio of 0.62. The firm’s fifty day simple moving average is GBX 471.45 and its 200 day simple moving average is GBX 469.81. The stock has a market capitalization of £32.63 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.43 and a beta of 0.57.

Tesco (LON:TSCO) last issued its quarterly earnings data on Thursday, October 8th. The retailer reported GBX 17.50 EPS for the quarter. Tesco had a net margin of 2.53% and a return on equity of 16.45%. On average, sell-side analysts forecast 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.