Pennon Group (LON:PNN) Hits New 12-Month High – What’s Next?
by Tristan Rich · The Markets DailyShares of Pennon Group Plc (LON:PNN – Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as GBX 568 and last traded at GBX 568, with a volume of 725908 shares changing hands. The stock had previously closed at GBX 558.50.
Analyst Upgrades and Downgrades
PNN has been the topic of a number of analyst reports. Citigroup cut Pennon Group to a “neutral” rating and lifted their price target for the stock from GBX 539 to GBX 542 in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Pennon Group from GBX 580 to GBX 600 and gave the stock a “buy” rating in a report on Monday, January 19th. Finally, Barclays reiterated an “overweight” rating and set a GBX 670 price target on shares of Pennon Group in a report on Thursday, October 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Pennon Group currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 604.
View Our Latest Analysis on PNN
Pennon Group Price Performance
The company has a current ratio of 0.97, a quick ratio of 1.54 and a debt-to-equity ratio of 341.72. The business’s 50 day moving average price is GBX 537.49 and its two-hundred day moving average price is GBX 508.37. The stock has a market cap of £2.68 billion, a P/E ratio of 118.54, a price-to-earnings-growth ratio of 8.20 and a beta of 0.29.
Pennon Group (LON:PNN – Get Free Report) last released its quarterly earnings results on Thursday, November 27th. The company reported GBX 14 earnings per share (EPS) for the quarter. Pennon Group had a negative net margin of 1.05% and a negative return on equity of 0.88%. As a group, sell-side analysts expect that Pennon Group Plc will post 1.0402417 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider David Sproul purchased 4,635 shares of Pennon Group stock in a transaction that occurred on Tuesday, December 9th. The shares were bought at an average cost of GBX 536 per share, with a total value of £24,843.60. 0.37% of the stock is currently owned by insiders.
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.