Pennon Group (LON:PNN) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Pennon Group Plc (LON:PNN)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 531.59 and traded as low as GBX 479.80. Pennon Group shares last traded at GBX 479.80, with a volume of 900,754 shares changing hands.

Analysts Set New Price Targets

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

Pennon Group Trading Down 1.1%

The firm has a market capitalization of £2.24 billion, a P/E ratio of 24.59, a PEG 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. The firm has a 50 day moving average of GBX 501.16 and a 200-day moving average of GBX 531.59.

Pennon Group (LON:PNN) last posted 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 return on equity of 6.61% and a net margin of 7.09%. On average, equities research analysts predict that Pennon Group Plc will post 1.0402417 earnings per share for the current fiscal year.

About Pennon Group

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.