Pennon Group (LON:PNN) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Pennon Group Plc (LON:PNN)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 533.43 and traded as low as GBX 462.60. Pennon Group shares last traded at GBX 471.40, with a volume of 3,802,130 shares traded.

Wall Street Analyst Weigh In

PNN has been the subject of a number of research reports. UBS Group reaffirmed a “buy” rating and set a GBX 650 price target on shares of Pennon Group in a research report on Friday, June 5th. Citigroup cut their price objective on Pennon Group from GBX 6,560 to GBX 5,520 and set a “buy” rating on the stock in a research report on Thursday, June 11th. JPMorgan Chase & Co. boosted their price objective on Pennon Group from GBX 565 to GBX 615 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft decreased their target price on Pennon Group from GBX 620 to GBX 550 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a GBX 590 target price on shares of Pennon Group in a research note on Thursday, June 11th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Pennon Group currently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,432.50.

Pennon Group Stock Down 0.0%

The firm’s 50 day moving average price is GBX 506.68 and its two-hundred day moving average price is GBX 533.04. The firm has a market capitalization of £2.20 billion, a PE ratio of 97.00, a P/E/G ratio of 8.20 and a beta of 0.54. The company has a quick ratio of 1.53, a current ratio of 1.51 and a debt-to-equity ratio of 347.81.

Pennon Group (LON:PNN) last issued its quarterly earnings data on Wednesday, June 10th. The company reported GBX 28.30 EPS for the quarter. The firm had revenue of GBX 129.14 billion for the quarter. Pennon Group had a net margin of 7.09% and a return on equity of 6.61%. As a group, research analysts forecast that Pennon Group Plc will post 1.0402417 EPS for the current fiscal year.

Pennon Group Company Profile

At the top end of the FTSE 250, Pennon is an infrastructure group, focused on the UK water market is one of only three listed water companies in the UK. Operating in a stable regulatory environment with a positive outlook, we are focused on long-term sustainable growth, through disciplined capital allocation, organic and acquisitive. Our 25-year rolling licence provides predictable index-linked growth and visibility over future revenues.

We provide clean and wastewater services through our businesses across the Great South West.