Pennon Group (LON:PNN) Reaches New 52-Week High – Here’s What Happened

Shares of Pennon Group Plc (LON:PNN) hit a new 52-week high on Tuesday . The stock traded as high as GBX 598 and last traded at GBX 597, with a volume of 465481 shares traded. The stock had previously closed at GBX 586.50.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PNN shares. Citigroup cut shares of Pennon Group to a “neutral” rating and increased their price objective for the stock from GBX 539 to GBX 542 in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Pennon Group from GBX 580 to GBX 600 and gave the company a “buy” rating in a research note on Monday, January 19th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Pennon Group currently has a consensus rating of “Moderate Buy” and an average price target of GBX 604.

Pennon Group Stock Up 0.2%

The firm’s fifty day simple moving average is GBX 550.72 and its 200 day simple moving average is GBX 515.06. The company has a current ratio of 0.97, a quick ratio of 1.54 and a debt-to-equity ratio of 341.72. The company has a market cap of £2.81 billion, a price-to-earnings ratio of 124.27, a PEG ratio of 8.20 and a beta of 0.29.

Pennon Group (LON:PNN) last released its quarterly earnings data on Thursday, November 27th. The company reported GBX 14 earnings per share (EPS) for the quarter. Pennon Group had a negative net margin of 1.05% and a negative return on equity of 0.88%. Sell-side analysts predict that Pennon Group Plc will post 1.0402417 earnings per share for the current year.

Insider Transactions at Pennon Group

In other Pennon Group news, insider David Sproul acquired 4,635 shares of the stock in a transaction dated Tuesday, December 9th. The stock was acquired at an average cost of GBX 536 per share, with a total value of £24,843.60. 0.37% of the stock is owned by company 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.