Brokerages Set Pennon Group Plc (LON:PNN) Price Target at GBX 1,297.14

Pennon Group Plc (LON:PNN) has received an average rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is GBX 1,297.14.

Several analysts have recently commented on PNN shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Pennon Group from GBX 620 to GBX 550 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 575 price objective on shares of Pennon Group in a research report on Tuesday, August 25th. Citigroup decreased their price objective on Pennon Group from GBX 6,560 to GBX 5,520 and set a “buy” rating on the stock in a report on Thursday, June 11th. UBS Group restated a “buy” rating and issued a GBX 650 price objective on shares of Pennon Group in a report on Friday, June 5th. Finally, Jefferies Financial Group reduced their price target on shares of Pennon Group from GBX 590 to GBX 500 and set a “hold” rating for the company in a research report on Monday, August 3rd.

Insider Activity

In other news, insider Laura Flowerdew sold 1,119 shares of the firm’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of GBX 493, for a total transaction of £5,516.67. Insiders have acquired 95 shares of company stock valued at $44,685 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Pennon Group Trading Up 1.0%

LON PNN opened at GBX 465.83 on Monday. Pennon Group has a twelve month low of GBX 443 and a twelve month 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 company has a market cap of £2.20 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 8.20 and a beta of 0.56. The business’s fifty day moving average is GBX 470.58 and its 200 day moving average is GBX 509.66.

Pennon Group (LON:PNN) last released its quarterly earnings results on Wednesday, June 10th. The company reported GBX 28.30 earnings per share (EPS) for the quarter. The firm 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%. As a group, sell-side analysts expect that Pennon Group will post 1.0402417 EPS for the current fiscal year.

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.