Pennon Group (LON:PNN) PT Lowered to GBX 1,030 at Barclays

Pennon Group (LON:PNN) had its price target lowered by Barclays from GBX 1,060 ($13.32) to GBX 1,030 ($12.94) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also issued reports on the company. Jefferies Financial Group restated a buy rating and issued a GBX 830 ($10.43) target price on shares of Pennon Group in a report on Thursday, April 11th. JPMorgan Chase & Co. cut their price objective on Pennon Group from GBX 740 ($9.30) to GBX 710 ($8.92) and set a neutral rating for the company in a report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of GBX 840 ($10.55).

Pennon Group Price Performance

PNN opened at GBX 720.50 ($9.05) on Tuesday. The stock has a fifty day moving average of GBX 666.54 and a 200-day moving average of GBX 699.95. The firm has a market capitalization of £2.06 billion, a P/E ratio of -12,008.33, a PEG ratio of 8.20 and a beta of 0.29. Pennon Group has a 12-month low of GBX 532.83 ($6.69) and a 12-month high of GBX 871 ($10.94). The company has a quick ratio of 1.54, a current ratio of 1.27 and a debt-to-equity ratio of 340.01.

Pennon Group Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, January 25th were issued a dividend of GBX 14.04 ($0.18) per share. The ex-dividend date of this dividend was Thursday, January 25th. This represents a dividend yield of 1.88%. Pennon Group’s dividend payout ratio is currently -73,333.33%.

Pennon Group Company Profile

Pennon Group Plc provides clean water and wastewater services in the United Kingdom. It provides water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset; water-only services in the areas of Dorset, Hampshire, and Wiltshire; and water and wastewater retail services to non-household customers in Great Britain.