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Tesco plc ( (GB:TSCO) ) has issued an update.
Tesco PLC has announced the purchase of 925,000 of its own ordinary shares as part of its ongoing £1.45 billion share buyback program. These shares, bought at an average price of 449.25 pence, will be cancelled, reducing the total number of shares in issue to 6,505,428,377. This move is part of Tesco’s strategy to enhance shareholder value and optimize its capital structure.
The most recent analyst rating on (GB:TSCO) stock is a Buy with a £501.00 price target. To see the full list of analyst forecasts on Tesco plc stock, see the GB:TSCO Stock Forecast page.
Spark’s Take on GB:TSCO Stock
According to Spark, TipRanks’ AI Analyst, GB:TSCO is a Outperform.
Tesco plc’s overall stock score is driven by strong financial performance and positive technical indicators. The company’s robust revenue growth and stable operations are complemented by bullish market momentum. However, the relatively high P/E ratio suggests potential overvaluation, which is mitigated by a solid dividend yield.
To see Spark’s full report on GB:TSCO stock, click here.
More about Tesco plc
Tesco PLC is a leading multinational retail company, primarily engaged in the grocery and general merchandise sector. It operates a chain of supermarkets and hypermarkets, with a significant presence in the UK and other international markets.
Average Trading Volume: 14,473,145
Technical Sentiment Signal: Buy
Current Market Cap: £29.01B
See more insights into TSCO stock on TipRanks’ Stock Analysis page.