Pennon Group (LON:PNN) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Pennon Group Plc (LON:PNN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 498.66 and traded as high as GBX 535.50. Pennon Group shares last traded at GBX 531.50, with a volume of 34,134,949 shares.

Analysts Set New Price Targets

PNN has been the topic of several research reports. Barclays reissued an “overweight” rating and issued a GBX 670 target price on shares of Pennon Group in a research report on Thursday, October 16th. Citigroup downgraded Pennon Group to a “neutral” rating and boosted their price target for the company from GBX 539 to GBX 542 in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Pennon Group presently has a consensus rating of “Moderate Buy” and an average target price of GBX 606.

Pennon Group Stock Performance

The company has a market capitalization of £2.51 billion, a PE ratio of 110.73, a PEG ratio of 8.20 and a beta of 0.29. The firm has a 50-day moving average of GBX 521.41 and a two-hundred day moving average of GBX 498.66. The company has a quick ratio of 1.54, a current ratio of 0.97 and a debt-to-equity ratio of 341.72.

Pennon Group (LON:PNN) last announced its quarterly earnings data on Thursday, November 27th. The company reported GBX 14 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%. Research analysts anticipate that Pennon Group Plc will post 1.0402417 EPS for the current year.

Insider Buying and Selling at Pennon Group

In other Pennon Group news, insider David Sproul acquired 4,635 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were purchased at an average price of GBX 536 per share, with a total value of £24,843.60. Insiders purchased 4,693 shares of company stock valued at $2,513,766 in the last quarter. 0.37% of the stock is owned by 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.