SSE plc (SSE) Shares Down 0% Following Analyst Downgrade
SSE plc (LON:SSE)’s share price traded down 0% during trading on Thursday after Berenberg Bank lowered their price target on the stock from GBX 1,650 to GBX 1,600. Berenberg Bank currently has a buy rating on the stock. SSE plc traded as low as GBX 1,366 ($17.97) and last traded at GBX 1,358 ($17.86). 4,912,377 shares traded hands during mid-day trading, an increase of 39% from the average session volume of 3,540,000 shares. The stock had previously closed at GBX 1,358 ($17.86).
SSE has been the subject of a number of other research reports. Jefferies Group LLC raised shares of SSE plc to a “buy” rating and boosted their target price for the company from GBX 1,400 ($18.41) to GBX 1,700 ($22.36) in a research report on Tuesday. reissued a “buy” rating and issued a GBX 1,530 ($20.12) target price on shares of SSE plc in a research report on Friday, November 10th. Deutsche Bank AG reissued a “sell” rating and issued a GBX 1,300 ($17.10) target price on shares of SSE plc in a research report on Thursday, November 9th. Citigroup Inc. reissued a “neutral” rating and issued a GBX 1,388 ($18.26) target price on shares of SSE plc in a research report on Wednesday, November 8th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a GBX 1,540 ($20.26) target price on shares of SSE plc in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of GBX 1,549.29 ($20.38).
SSE plc (LON:SSE) last posted its quarterly earnings data on Wednesday, November 8th. The company reported GBX 31.20 ($0.41) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of GBX 30.30 ($0.40) by GBX 0.90 ($0.01). SSE plc had a net margin of 6.57% and a return on equity of 40.09%. The business had revenue of GBX 1,218.41 billion during the quarter.
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SSE plc Company Profile
SSE plc is engaged in producing, distributing and supplying electricity and gas, as well as other energy-related services to homes and businesses in Great Britain and Ireland. The Company’s segments include Networks, which consists of electricity distribution, electricity transmission and gas distribution; Retail, which consists of energy supply, enterprise and energy-related services, and Wholesale, which consists of energy portfolio management and electricity generation, gas storage and gas production.
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