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

Tesco PLC (OTCMKTS:TSCDY) gapped down prior to trading on Wednesday . The stock had previously closed at $18.4659, but opened at $17.80. Tesco shares last traded at $17.77, with a volume of 10,129 shares changing hands.

Wall Street Analysts Forecast Growth

TSCDY has been the topic of several research analyst reports. Zacks Research lowered shares of Tesco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Barclays reiterated an “overweight” rating on shares of Tesco in a research report on Tuesday, August 26th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Tesco Price Performance

The business’s fifty day moving average price is $18.13 and its 200 day moving average price is $17.02. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 0.44.

Tesco Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, December 1st. Investors of record on Monday, October 13th will be issued a dividend of $0.1906 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a dividend yield of 315.0%.

About Tesco

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.