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

Pennon Group Plc (LON:PNN) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 533.43 and traded as low as GBX 462.60. Pennon Group shares last traded at GBX 471.40, with a volume of 3,802,130 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PNN shares. UBS Group reissued a “buy” rating and issued a GBX 650 price target on shares of Pennon Group in a research report on Friday, June 5th. Citigroup cut their price objective on Pennon Group from GBX 6,560 to GBX 5,520 and set a “buy” rating on the stock in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reduced 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. Jefferies Financial Group reissued a “hold” rating and set a GBX 590 target price on shares of Pennon Group in a research note on Thursday, June 11th. Finally, JPMorgan Chase & Co. upped their price target on Pennon Group from GBX 565 to GBX 615 and gave the stock a “neutral” rating in a report on Monday, April 13th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of GBX 1,432.50.

Pennon Group Stock Up 0.3%

The business’s 50 day moving average is GBX 508.19 and its 200-day moving average is GBX 533.43. 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 market cap of £2.22 billion, a PE ratio of 98.21, a P/E/G ratio of 8.20 and a beta of 0.54.

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