Pennon Group (LON:PNN) Shares Pass Below 200 Day Moving Average – Time to Sell?

Pennon Group Plc (LON:PNN)’s share price passed 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 trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. 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 research report on Monday, April 13th. UBS Group reiterated a “buy” rating and issued a GBX 650 price objective on shares of Pennon Group in a report on Friday, June 5th. Jefferies Financial Group restated a “hold” rating and set a GBX 590 target price on shares of Pennon Group in a report on Thursday, June 11th. Citigroup decreased their target price on shares of Pennon Group from GBX 6,560 to GBX 5,520 and set a “buy” rating for the company in a research report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Pennon Group from GBX 620 to GBX 550 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,432.50.

Pennon Group Price Performance

The stock has a market capitalization of £2.24 billion, a P/E ratio of 24.59, a price-to-earnings-growth 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’s 50-day simple moving average is GBX 501.16 and its 200-day simple moving average is GBX 531.59.

Pennon Group (LON:PNN) last released its quarterly earnings data on Wednesday, June 10th. The company reported GBX 28.30 earnings per share 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%. As a group, sell-side analysts expect that Pennon Group Plc 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.