Greene King (GNK) Cut to “Underweight” at J P Morgan Chase & Co
J P Morgan Chase & Co cut shares of Greene King (LON:GNK) to an underweight rating in a research note issued to investors on Tuesday morning. They currently have GBX 500 ($6.73) target price on the stock, down from their prior target price of GBX 650 ($8.75).
A number of other analysts have also commented on GNK. decreased their target price on Greene King from GBX 595 ($8.01) to GBX 510 ($6.86) and set a reduce rating for the company in a research report on Wednesday, September 27th. Liberum Capital reaffirmed a buy rating and issued a GBX 720 ($9.69) target price on shares of Greene King in a research report on Friday, September 29th. Shore Capital reiterated a buy rating on shares of Greene King in a research note on Thursday, November 30th. HSBC cut their price target on Greene King from GBX 510 ($6.86) to GBX 485 ($6.53) and set a reduce rating for the company in a research note on Wednesday, December 6th. Finally, Peel Hunt cut their price target on Greene King from GBX 625 ($8.41) to GBX 600 ($8.08) and set an add rating for the company in a research note on Thursday, November 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Greene King presently has an average rating of Hold and a consensus target price of GBX 594.09 ($8.00).
Shares of Greene King (LON GNK) traded down GBX 7 ($0.09) on Tuesday, reaching GBX 513.50 ($6.91). The company’s stock had a trading volume of 788,064 shares, compared to its average volume of 1,410,000. Greene King has a 52-week low of GBX 490.08 ($6.60) and a 52-week high of GBX 768 ($10.34).
Greene King (LON:GNK) last announced its earnings results on Thursday, November 30th. The company reported GBX 33 ($0.44) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of GBX 34 ($0.46) by GBX (1) (($0.01)). Greene King had a return on equity of 7.76% and a net margin of 6.65%. The company had revenue of GBX 103.14 billion for the quarter.
The business also recently declared a dividend, which will be paid on Friday, January 19th. Shareholders of record on Thursday, December 7th will be paid a dividend of GBX 8.80 ($0.12) per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a yield of 1.69%.
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Greene King Company Profile
Greene King plc is an integrated pub retailer and brewer. The Company operates approximately 3,040 managed, tenanted, leased and franchised pubs, restaurants and hotels, including brands, such as Hungry Horse, Chef & Brewer, Flaming Grill, Farmhouse Inns and its Greene King locals estate. The Company’s segments include Pub Company, Pub Partners, and Brewing & Brands.
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