SSE (LON:SSE) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

SSE plc (LON:SSE)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,470.30 and traded as low as GBX 2,434. SSE shares last traded at GBX 2,450.17, with a volume of 5,317,332 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on SSE from GBX 2,580 to GBX 2,925 and gave the stock an “overweight” rating in a report on Wednesday, April 1st. UBS Group reaffirmed a “neutral” rating and issued a GBX 2,350 target price on shares of SSE in a research note on Friday, May 22nd. Jefferies Financial Group reiterated a “buy” rating and set a GBX 3,060 target price on shares of SSE in a research report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 2,900 price target on shares of SSE in a research note on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, SSE currently has an average rating of “Moderate Buy” and a consensus target price of GBX 2,606.57.

SSE Stock Performance

The company has a debt-to-equity ratio of 103.50, a current ratio of 1.20 and a quick ratio of 0.50. The company has a 50 day simple moving average of GBX 2,420.89 and a 200-day simple moving average of GBX 2,470.30. The stock has a market cap of £29.86 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 3.06 and a beta of 0.59.

SSE (LON:SSE) last announced its quarterly earnings data on Thursday, May 28th. The company reported GBX 153.50 EPS for the quarter. The firm had revenue of GBX 1,018.65 billion for the quarter. SSE had a return on equity of 9.45% and a net margin of 11.87%. On average, equities analysts expect that SSE plc will post 163.8865004 earnings per share for the current fiscal year.

SSE Company Profile

SSE is a leading generator of renewables and flexible energy in the GB and Ireland markets, and one of the world’s fastest-growing electricity networks companies.

This includes onshore and offshore wind farms, hydro, electricity transmission and distribution networks, power stations, carbon capture and hydrogen, solar and batteries, as well as providing energy products and services for businesses and other customers.

SSE’s more than 14,000 employees are dedicated to delivering cleaner, more secure energy and ensuring a just transition to a net zero future.