Tesco (OTCMKTS:TSCDY) Stock Passes Below 50-Day Moving Average – Here’s Why

Tesco PLC (OTCMKTS:TSCDY) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $14.18 and traded as low as $14.02. Tesco shares last traded at $14.11, with a volume of 97,843 shares.

Analysts Set New Price Targets

TSCDY has been the subject of a number of recent research reports. Citigroup upgraded shares of Tesco to a “strong-buy” rating in a research report on Friday, September 13th. Sanford C. Bernstein upgraded shares of Tesco to a “strong-buy” rating in a report on Tuesday, August 13th.

Tesco Price Performance

The business has a 50 day simple moving average of $14.18 and a 200-day simple moving average of $12.64. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 0.49.

Tesco Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, October 15th will be issued a $0.1692 dividend. The ex-dividend date is Tuesday, October 15th.

Tesco Company Profile

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.