SSE (LON:SSE) Shares Pass Below 200 Day Moving Average – Here’s Why

SSE plc (LON:SSE)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,470.30 and traded as low as GBX 2,434. SSE shares last traded at GBX 2,450.17, with a volume of 5,317,332 shares.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SSE. UBS Group reissued a “neutral” rating and set a GBX 2,350 target price on shares of SSE in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 2,900 price target on shares of SSE in a report on Friday, May 29th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 3,060 price target on shares of SSE in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of SSE from GBX 2,580 to GBX 2,925 and gave the stock an “overweight” rating in a report on Wednesday, April 1st. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,606.57.

SSE Stock Down 2.4%

The firm’s 50 day simple moving average is GBX 2,414.20 and its 200-day simple moving average is GBX 2,474.34. The company has a market cap of £29.16 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 3.06 and a beta of 0.59. The company has a debt-to-equity ratio of 103.50, a current ratio of 1.20 and a quick ratio of 0.50.

SSE (LON:SSE) last posted its earnings results on Thursday, May 28th. The company reported GBX 153.50 EPS for the quarter. SSE had a return on equity of 9.45% and a net margin of 11.87%.The business had revenue of GBX 1,018.65 billion for the quarter. As a group, sell-side analysts anticipate that SSE plc will post 163.8865004 earnings per share for the current year.

About SSE

SSE is a leading generator of renewables and flexible energy in the GB and Ireland markets, and one of the world’s fastest-growing electricity networks companies.

This includes onshore and offshore wind farms, hydro, electricity transmission and distribution networks, power stations, carbon capture and hydrogen, solar and batteries, as well as providing energy products and services for businesses and other customers.

SSE’s more than 14,000 employees are dedicated to delivering cleaner, more secure energy and ensuring a just transition to a net zero future.