BNP Paribas Lowers Pennon Group (LON:PNN) to Underperform

BNP Paribas downgraded shares of Pennon Group (LON:PNN) to an underperform rating in a research report report published on Thursday morning, Stock Target Advisor reports. BNP Paribas currently has GBX 750 ($9.80) price target on the stock, down from their prior price target of GBX 800 ($10.45).

Several other equities analysts have also recently commented on PNN. Goldman Sachs Group increased their price target on shares of Pennon Group from GBX 934 ($12.20) to GBX 974 ($12.73) and gave the stock a buy rating in a research report on Wednesday. Jefferies Financial Group reissued a hold rating and issued a GBX 740 ($9.67) price objective (down from GBX 770 ($10.06)) on shares of Pennon Group in a report on Thursday, September 19th. Barclays restated an overweight rating on shares of Pennon Group in a research note on Thursday, November 14th. JPMorgan Chase & Co. reaffirmed a neutral rating on shares of Pennon Group in a report on Friday, September 13th. Finally, Deutsche Bank raised Pennon Group to a buy rating and increased their target price for the stock from GBX 780 ($10.19) to GBX 880 ($11.50) in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Pennon Group currently has an average rating of Hold and a consensus price target of GBX 861.40 ($11.26).

Shares of LON:PNN opened at GBX 932.20 ($12.18) on Thursday. The company has a fifty day simple moving average of GBX 907.88 and a 200 day simple moving average of GBX 790.88. The firm has a market cap of $3.92 billion and a PE ratio of 16.83. Pennon Group has a 12-month low of GBX 681 ($8.90) and a 12-month high of GBX 959 ($12.53). The company has a current ratio of 2.31, a quick ratio of 1.78 and a debt-to-equity ratio of 240.10.

The firm also recently announced a dividend, which will be paid on Friday, April 3rd. Shareholders of record on Thursday, January 23rd will be issued a GBX 13.66 ($0.18) dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a yield of 1.45%. Pennon Group’s dividend payout ratio is currently 0.76%.

Pennon Group Company Profile

Pennon Group Plc engages in the environmental infrastructure businesses in the United Kingdom, rest of European Union, China, and internationally. The company's Water segment comprises the regulated water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset; and water services in the areas of Dorset, Hampshire, and Wiltshire.

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Analyst Recommendations for Pennon Group (LON:PNN)

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