Tesco’s (TSCO) Buy Rating Reiterated at Shore Capital

Shore Capital reiterated their buy rating on shares of Tesco (LON:TSCO – Get Rating) in a report published on Monday, Digital Look reports.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group raised shares of Tesco to a buy rating and raised their target price for the company from GBX 260 ($3.23) to GBX 310 ($3.86) in a research note on Monday, March 6th. JPMorgan Chase & Co. raised their price target on Tesco from GBX 270 ($3.36) to GBX 290 ($3.61) and gave the stock an overweight rating in a research report on Tuesday, April 18th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Tesco currently has a consensus rating of Buy and a consensus target price of GBX 312 ($3.88).

Tesco Price Performance

LON TSCO opened at GBX 265.50 ($3.30) on Monday. The business has a 50 day simple moving average of GBX 269.19 and a 200 day simple moving average of GBX 249.89. Tesco has a 52-week low of GBX 194.35 ($2.42) and a 52-week high of GBX 285.30 ($3.55). The company has a debt-to-equity ratio of 123.29, a quick ratio of 0.60 and a current ratio of 0.72. The stock has a market cap of £19.38 billion, a price-to-earnings ratio of 2,650.00, a PEG ratio of 3.50 and a beta of 0.64.

Tesco Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, June 23rd. Stockholders of record on Thursday, May 11th will be issued a dividend of GBX 7.05 ($0.09) per share. This is a boost from Tesco’s previous dividend of $3.85. This represents a dividend yield of 2.63%. The ex-dividend date is Thursday, May 11th. Tesco’s payout ratio is 11,000.00%.

About Tesco

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Tesco PLC, together with its subsidiaries, engages in retailing and retail banking activities. It provides food products through approximately 4,752 stores in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary, as well as through online. The company is also involved in the food and drink wholesaling activities.