SSE (LON:SSE) Share Price Crosses Below 200-Day Moving Average – What’s Next?

SSE plc (LON:SSE)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,482.67 and traded as low as GBX 2,453. SSE shares last traded at GBX 2,468, with a volume of 2,581,427 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 2,900 target price on shares of SSE in a research note on Friday, May 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 3,060 price target on shares of SSE in a research note on Friday, May 29th. JPMorgan Chase & Co. increased 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. Finally, UBS Group reissued a “neutral” rating and set a GBX 2,350 price objective on shares of SSE in a research report on Friday, May 22nd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,606.57.

SSE Price Performance

The firm has a market cap of £29.77 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 3.06 and a beta of 0.59. 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 firm’s 50 day moving average is GBX 2,402.84 and its 200 day moving average is GBX 2,482.67.

SSE (LON:SSE) last announced its earnings results on Thursday, May 28th. The company reported GBX 153.50 earnings per share for the quarter. SSE had a net margin of 11.87% and a return on equity of 9.45%. The business had revenue of GBX 1,018.65 billion during the quarter. As a group, analysts anticipate that SSE plc will post 163.8865004 earnings per share for the current 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.