Tesco (OTCMKTS:TSCDY) Shares Gap Down – Here’s Why

Tesco PLC (OTCMKTS:TSCDY) shares gapped down before the market opened on Friday . The stock had previously closed at $17.94, but opened at $17.25. Tesco shares last traded at $18.0150, with a volume of 769 shares changing hands.

Analyst Ratings Changes

TSCDY has been the subject of a number of research analyst reports. Zacks Research lowered Tesco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Tesco in a research note on Wednesday, December 10th. Jefferies Financial Group lowered Tesco from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, Citigroup reissued a “buy” rating on shares of Tesco in a research report on Thursday, December 11th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Tesco presently has a consensus rating of “Moderate Buy”.

Tesco Trading Up 0.7%

The business has a 50 day moving average price of $18.05 and a 200 day moving average price of $17.53. The company has a quick ratio of 0.40, a current ratio of 0.60 and a debt-to-equity ratio of 0.45.

Tesco Cuts Dividend

The company also recently disclosed a dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, October 13th were paid a dividend of $0.1906 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a dividend yield of 315.0%.

About Tesco

Tesco PLC is a British multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, Hertfordshire. Founded in 1919 by Jack Cohen as a market stall, the company expanded into a nationwide chain of supermarkets and has grown into one of the largest retailers in the United Kingdom. Tesco operates a range of store formats designed to serve different customer needs, including large-format hypermarkets, standard supermarkets and smaller convenience stores, along with an extensive online grocery and home delivery service.

The company’s core activities include the retail sale of food and non-food products, development and distribution of own-label ranges (from value to premium), and provision of convenience and fuel forecourt services.