Pennon Group (LON:PNN) Price Target Raised to GBX 670

Key Points

• Barclays analysts have increased the price target for Pennon Group (LON:PNN) from GBX 650 to GBX 670, implying a potential upside of 39.47% from the last closing price.
• Pennon Group reported a negative earnings per share (EPS) of GBX (10.30) for the quarter, and analysts predict an EPS of 1.04 for the current fiscal year.
• Insider buying activity is noted, with Andrea Blance purchasing 2,000 shares at an average price of GBX 493, indicating confidence in the company's future performance.

Pennon Group (LON:PNN - Get Free Report) had its target price increased by equities research analysts at Barclays from GBX 650 to GBX 670 in a research report issued on Wednesday, Marketbeat reports. The firm currently has an "overweight" rating on the stock. Barclays's price target points to a potential upside of 36.01% from the company's current price.

Pennon Group Stock Performance

PNN traded up GBX 3.80 on Wednesday, hitting GBX 492.60. 642,167 shares of the company's stock were exchanged, compared to its average volume of 3,215,561. The firm has a market cap of £2.28 billion, a PE ratio of -138.50, a P/E/G ratio of 8.20 and a beta of 0.29. Pennon Group has a twelve month low of GBX 383 and a twelve month high of GBX 643. The stock has a fifty day moving average of GBX 494.36 and a two-hundred day moving average of GBX 475.73. The company has a current ratio of 0.97, a quick ratio of 1.54 and a debt-to-equity ratio of 341.72.

Pennon Group (LON:PNN - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported GBX (10.30) earnings per share for the quarter. Pennon Group had a negative return on equity of 0.88% and a negative net margin of 1.05%. On average, research analysts anticipate that Pennon Group will post 1.0402417 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Andrea Blance acquired 2,000 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average cost of GBX 493 per share, for a total transaction of £9,860. In the last ninety days, insiders acquired 2,153 shares of company stock worth $1,060,683. 0.51% of the stock is owned by corporate 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.