Tesco (OTCMKTS:TSCDY) Share Price Crosses Below 50-Day Moving Average – Time to Sell?

Tesco PLC (OTCMKTS:TSCDY) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $14.25 and traded as low as $13.73. Tesco shares last traded at $13.73, with a volume of 261,804 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TSCDY. Sanford C. Bernstein upgraded Tesco to a “strong-buy” rating in a research note on Tuesday, August 13th. Citigroup upgraded Tesco to a “strong-buy” rating in a research note on Friday, September 13th. Finally, BNP Paribas began coverage on Tesco in a research note on Friday, October 18th. They set an “outperform” rating for the company.

Tesco Stock Down 1.3 %

The business has a 50 day simple moving average of $14.25 and a two-hundred day simple moving average of $12.73. The company has a current ratio of 0.81, a quick ratio of 0.68 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. Stockholders of record on Tuesday, October 15th will be given a $0.1692 dividend. The ex-dividend date is Tuesday, October 15th.

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.