Pennon Group (LON:PNN) Lowered to Sector Performer at Royal Bank of Canada

Royal Bank of Canada downgraded shares of Pennon Group (LON:PNN) to a sector performer rating in a research report sent to investors on Monday, November 26th. Royal Bank of Canada currently has GBX 800 ($10.45) price target on the stock, down from their prior price target of GBX 925 ($12.09).

Other equities analysts have also recently issued reports about the company. Deutsche Bank reduced their price objective on Pennon Group from GBX 850 ($11.11) to GBX 780 ($10.19) and set a buy rating for the company in a report on Tuesday, October 2nd. Goldman Sachs Group lifted their price objective on Pennon Group from GBX 758 ($9.90) to GBX 775 ($10.13) and gave the stock a neutral rating in a report on Tuesday, September 18th. UBS Group cut their price target on Pennon Group from GBX 820 ($10.71) to GBX 800 ($10.45) and set a buy rating for the company in a report on Monday, September 17th. Morgan Stanley reissued an equal weight rating and issued a GBX 790 ($10.32) price target on shares of Pennon Group in a report on Monday, September 10th. Finally, HSBC cut their price target on Pennon Group from GBX 890 ($11.63) to GBX 860 ($11.24) and set a buy rating for the company in a report on Tuesday, August 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of GBX 790.63 ($10.33).

Pennon Group stock opened at GBX 711.40 ($9.30) on Monday. Pennon Group has a 1-year low of GBX 600.23 ($7.84) and a 1-year high of GBX 947.23 ($12.38).

The firm also recently announced a dividend, which will be paid on Thursday, April 4th. Investors of record on Thursday, January 24th will be paid a GBX 12.84 ($0.17) dividend. The ex-dividend date is Thursday, January 24th. This represents a yield of 1.68%.

About Pennon Group

Pennon Group Plc engages in the environmental infrastructure businesses worldwide. The company operates through Water, and Waste Management segments. The Water segment comprises the regulated water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset serving 1.7 million customers; and water services in the areas of Dorset, Hampshire, and Wiltshire serving approximately 0.5 million customers.

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Analyst Recommendations for Pennon Group (LON:PNN)

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