Pennon Group (LON:PNN) Price Target Cut to GBX 710

Pennon Group (LON:PNN) had its target price cut by JPMorgan Chase & Co. from GBX 740 ($9.30) to GBX 710 ($8.92) in a research report released on Friday morning, MarketBeat.com reports. They currently have a neutral rating on the stock.

Separately, Jefferies Financial Group restated a buy rating and set a GBX 830 ($10.43) target price on shares of Pennon Group in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of GBX 852 ($10.70).

Pennon Group Stock Up 1.4 %

PNN opened at GBX 698.50 ($8.78) on Friday. The company has a debt-to-equity ratio of 340.01, a quick ratio of 1.54 and a current ratio of 1.27. Pennon Group has a fifty-two week low of GBX 532.83 ($6.69) and a fifty-two week high of GBX 876.50 ($11.01). The firm’s fifty day moving average is GBX 662.85 and its 200 day moving average is GBX 699.33. The stock has a market cap of £2.00 billion, a price-to-earnings ratio of -11,641.67, a price-to-earnings-growth ratio of 8.20 and a beta of 0.29.

Pennon Group Cuts Dividend

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

About Pennon Group

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.