SSE (SSE) Shares Down 0.1% on Analyst Downgrade
Shares of SSE plc (LON:SSE) fell 0.1% on Friday after J P Morgan Chase & Co lowered their price target on the stock from GBX 1,540 to GBX 1,450. J P Morgan Chase & Co currently has a neutral rating on the stock. SSE traded as low as GBX 1,318 ($17.74) and last traded at GBX 1,324 ($17.82). 2,748,880 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 4,030,000 shares. The stock had previously closed at GBX 1,322.81 ($17.80).
SSE has been the topic of several other research reports. Deutsche Bank restated a “sell” rating and issued a GBX 1,300 ($17.50) price target on shares of SSE in a research report on Friday, August 25th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 1,550 ($20.86) price target on shares of SSE in a research report on Tuesday, November 28th. Citigroup restated a “neutral” rating and issued a GBX 1,388 ($18.68) price target on shares of SSE in a research report on Wednesday, November 8th. Barclays restated an “overweight” rating and issued a GBX 1,665 ($22.41) price target on shares of SSE in a research report on Wednesday, November 8th. Finally, Macquarie restated an “outperform” rating and issued a GBX 1,475 ($19.85) price target on shares of SSE in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. SSE has a consensus rating of “Buy” and an average target price of GBX 1,534.93 ($20.66).
SSE (LON:SSE) last released its earnings results on Wednesday, November 8th. The company reported GBX 31.20 ($0.42) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of GBX 30.30 ($0.41) by GBX 0.90 ($0.01). SSE had a return on equity of 40.09% and a net margin of 6.57%. The company had revenue of GBX 1,218.41 billion for the quarter.
The company also recently declared a dividend, which will be paid on Friday, March 16th. Investors of record on Thursday, January 18th will be issued a GBX 28.40 ($0.38) dividend. This represents a dividend yield of 2.09%. The ex-dividend date is Thursday, January 18th.
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SSE plc is engaged in producing, distributing and supplying electricity and gas, as well as other energy-related services to homes and businesses in Great Britain and Ireland. The Company’s segments include Networks, which consists of electricity distribution, electricity transmission and gas distribution; Retail, which consists of energy supply, enterprise and energy-related services, and Wholesale, which consists of energy portfolio management and electricity generation, gas storage and gas production.
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