Jefferies Financial Group Cuts Pennon Group (LON:PNN) Price Target to GBX 500

Pennon Group (LON:PNN) had its target price lowered by Jefferies Financial Group from GBX 590 to GBX 500 in a report released on Monday, MarketBeat.com reports. The brokerage currently has a hold rating on the stock.

Several other brokerages have also recently issued reports on PNN. Citigroup dropped their price objective on shares of Pennon Group from GBX 6,560 to GBX 5,520 and set a “buy” rating for the company in a research note on Thursday, June 11th. UBS Group restated a “buy” rating and set a GBX 650 target price on shares of Pennon Group in a report on Friday, June 5th. JPMorgan Chase & Co. upped their price target on Pennon Group from GBX 565 to GBX 615 and gave the company a “neutral” rating in a research report on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft cut their price target 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 research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 1,417.50.

Pennon Group Trading Down 0.4%

Shares of PNN opened at GBX 457.40 on Monday. Pennon Group has a 52-week low of GBX 439.40 and a 52-week high of GBX 605. The stock has a market cap of £2.16 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 8.20 and a beta of 0.56. The firm’s fifty day moving average is GBX 479.54 and its two-hundred day moving average is GBX 523.20. 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 earnings results on Wednesday, June 10th. The company reported GBX 28.30 EPS for the quarter. The business had revenue of GBX 129.14 billion during the quarter. Pennon Group had a net margin of 7.09% and a return on equity of 6.61%. Research analysts forecast that Pennon Group will post 1.0402417 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Laura Flowerdew sold 1,119 shares of the firm’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of GBX 493, for a total transaction of £5,516.67. Insiders have bought a total of 92 shares of company stock valued at $44,844 over the last ninety days. Corporate insiders own 0.37% of the company’s stock.

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.