Pennon Group (LON:PNN) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Pennon Group Plc (LON:PNN)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 531.59 and traded as low as GBX 479.80. Pennon Group shares last traded at GBX 479.80, with a volume of 900,754 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PNN. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 590 price target on shares of Pennon Group in a research report on Thursday, June 11th. JPMorgan Chase & Co. raised their price objective on shares of Pennon Group from GBX 565 to GBX 615 and gave the company a “neutral” rating in a research note on Monday, April 13th. UBS Group reaffirmed a “buy” rating and issued a GBX 650 target price on shares of Pennon Group in a report on Friday, June 5th. Citigroup dropped their target price 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. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Pennon Group from GBX 620 to GBX 550 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 1,432.50.

Pennon Group Price Performance

The stock has a market cap of £2.22 billion, a PE ratio of 24.35, a PEG ratio of 8.20 and a beta of 0.54. The company has a debt-to-equity ratio of 347.81, a current ratio of 1.51 and a quick ratio of 1.53. The company has a 50 day moving average price of GBX 498.84 and a two-hundred day moving average price of GBX 530.85.

Pennon Group (LON:PNN) last released its quarterly earnings data on Wednesday, June 10th. The company reported GBX 28.30 EPS for the quarter. Pennon Group had a return on equity of 6.61% and a net margin of 7.09%.The company had revenue of GBX 129.14 billion for the quarter. Analysts expect that Pennon Group Plc will post 1.0402417 EPS for the current year.

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.