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The latest announcement is out from Tesco plc ( (GB:TSCO) ).
Tesco PLC announced the purchase of 2,562,380 of its own ordinary shares as part of a £700 million share buyback program. This transaction, conducted on the London Stock Exchange, is part of a broader strategy to enhance shareholder value by reducing the number of shares in circulation, thereby potentially increasing earnings per share. The cancellation of these shares reflects Tesco’s commitment to returning capital to shareholders, while the remaining shares in issue stand at 6,594,699,865.
The most recent analyst rating on (GB:TSCO) stock is a Buy with a £3.75 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’s strong financial performance and strategic share buyback program are major positive factors. Technical indicators suggest bullish momentum, though caution is advised due to potential overbought conditions.
To see Spark’s full report on GB:TSCO stock, click here.
More about Tesco plc
Tesco PLC is a leading multinational grocery and general merchandise retailer based in the United Kingdom. It operates a chain of supermarkets and hypermarkets, offering a wide range of products including food, clothing, and household goods, with a strong market presence in the UK and several other countries.
Average Trading Volume: 23,480,656
Technical Sentiment Signal: Buy
Current Market Cap: £26.37B
For detailed information about TSCO stock, go to TipRanks’ Stock Analysis page.