Pennon Group’s (PNN) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of Pennon Group (LON:PNN) in a report released on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a GBX 575 price objective on the stock.

A number of other research analysts have also commented on the stock. Citigroup lowered their price objective on shares of Pennon Group from GBX 6,560 to GBX 5,520 and set a “buy” rating on the stock in a research note on Thursday, June 11th. Jefferies Financial Group decreased their price target on Pennon Group from GBX 590 to GBX 500 and set a “hold” rating for the company in a research note on Monday, August 3rd. UBS Group reiterated a “buy” rating and set a GBX 650 price target on shares of Pennon Group in a research report on Friday, June 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Pennon Group from GBX 620 to GBX 550 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Pennon Group has an average rating of “Moderate Buy” and a consensus target price of GBX 1,297.14.

Pennon Group Stock Performance

Shares of PNN opened at GBX 474.40 on Tuesday. The firm has a 50-day moving average price of GBX 470.08 and a 200 day moving average price of GBX 513.40. The firm has a market capitalization of £2.24 billion, a PE ratio of 24.58, a P/E/G ratio of 8.20 and a beta of 0.56. 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 has a 52-week low of GBX 439.40 and a 52-week high of GBX 605.

Pennon Group (LON:PNN) last released its quarterly earnings results on Wednesday, June 10th. The company reported GBX 28.30 EPS for the quarter. The company had revenue of GBX 129.14 billion for the quarter. Pennon Group had a net margin of 7.09% and a return on equity of 6.61%. On average, sell-side analysts anticipate that Pennon Group will post 1.0402417 earnings per share for the current fiscal year.

Insider Activity at Pennon Group

In related news, insider Laura Flowerdew sold 1,119 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of GBX 493, for a total value of £5,516.67. In the last 90 days, insiders have purchased 95 shares of company stock valued at $44,685. 0.33% of the stock is 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.