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

Key Points

• Jefferies cut Pennon Group’s price target from GBX 590 to GBX 500 while maintaining a “hold” rating, implying 7.85% potential upside from the previous close.
• Analyst sentiment remains broadly positive: four analysts rate the stock “buy” and two rate it “hold,” producing a consensus rating of “Moderate Buy.”
• Pennon shares opened at GBX 463.60, near the lower end of their 52-week range, while the company reported quarterly EPS of GBX 28.30 and revenue of GBX 129.14 billion.

Pennon Group (LON:PNN - Get Free Report) had its target price cut by stock analysts at Jefferies Financial Group from GBX 590 to GBX 500 in a research note issued to investors on Monday,London Stock Exchange reports. The firm currently has a "hold" rating on the stock. Jefferies Financial Group's price objective points to a potential upside of 7.85% from the company's previous close.

Other equities analysts also recently issued reports about the stock. UBS Group reaffirmed a "buy" rating and set a GBX 650 target price on shares of Pennon Group in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Pennon Group from GBX 620 to GBX 550 and set a "buy" rating for the company in a research note on Tuesday, June 16th. Citigroup cut their price target on shares of Pennon Group from GBX 6,560 to GBX 5,520 and set a "buy" rating for the company in a report on Thursday, June 11th. Finally, JPMorgan Chase & Co. upped their price objective on Pennon Group from GBX 565 to GBX 615 and gave the company a "neutral" rating in a report on Monday, April 13th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Pennon Group presently has an average rating of "Moderate Buy" and a consensus target price of GBX 1,417.50.

Pennon Group Stock Up 0.1%

Shares of PNN opened at GBX 463.60 on Monday. Pennon Group has a 52-week low of GBX 439.40 and a 52-week high of GBX 605. 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 stock has a fifty day simple moving average of GBX 483.99 and a two-hundred day simple moving average of GBX 524.75. The company has a market capitalization of £2.19 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 8.20 and a beta of 0.56.

Pennon Group (LON:PNN - Get Free Report) last announced its quarterly earnings results on Wednesday, June 10th. The company reported GBX 28.30 earnings per share for the quarter. Pennon Group had a net margin of 7.09% and a return on equity of 6.61%. The firm had revenue of GBX 129.14 billion for the quarter. As a group, equities analysts forecast that Pennon Group will post 1.0402417 EPS for the current year.

Insider Buying and Selling at Pennon Group

In other Pennon Group news, insider Laura Flowerdew sold 1,119 shares of Pennon Group 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 92 shares of company stock worth $44,844 in the last ninety days. 0.37% of the stock is owned by company insiders.

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.

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