Pennon director McAulay steps down as Viridor CEO
1st Sep 2016 08:19
(ShareCast News) - Pennon director Ian McAulay has resigned with immediate effect as he stepped down as chief executive of the FTSE 250 group's waste business. McAuley was leaving to "pursue other opportunities", though chairman John Parker said he left Viridor "on track" to meet management expectat
Read moreSector movers: UK engineers drop on downgrades, utilities lower as well
16th Aug 2016 17:34
(ShareCast News) - Shares in British engineering groups Spectris and Halma dragged the Electronic & Electrical equipment sector lower after analysts at HSBC downgraded their stance on both in the wake-up of the recent run-up in their stock price. "The sector continued to re-rate through results seas
Read morePennon Group's annual pre-tax profits rise marginally
25th May 2016 10:10
(ShareCast News) - Water utility Pennon Group reported a slight rise in full year pre-tax profit as a strong performance in its energy recovery business offset lower water prices. Pre-tax profit rose 0.3% to £211.3m for the year to March 31 from £210.7m a year earlier. Group earnings before interest
Read moreSector movers: Banks and homebuilders lead gains
26th Apr 2016 15:19
(ShareCast News) - Banks and real estate and property stocks rode to the top of the leaderboard on the heels of well-received quarterly earnings from StanChart and a perception that Brexit risks were fading, although analysts and market commentary were cautious on both counts. For the first quarter
Read moreBond yields set to rise, Credit Suisse says
26th Apr 2016 14:14
(ShareCast News) - The US central bank´s 'dovishness' led to a "dramatic" decoupling between bond yields and cyclicals over the past two months, with the former falling even as the latter outperformed, but investors would be best advised to follow the latter, Credit Suisse said. Several relative val
Read moreCiti expresses concern around UK water utilities' premium valuation
9th Mar 2016 13:26
(ShareCast News) - Analysts at Citi on Wednesday recommended investors turn off the tap, cautioning they were increasingly concerned about UK water utilities' premium valuation. Their share prices had run up by 83% since 2010, outperforming the wider sector by 101% during that time frame, analyst Je
Read moreCredit Suisse downgrades Pennon to 'underperform'
16th Feb 2016 14:55
(ShareCast News) - Credit Suisse downgraded Pennon to 'underperform' from 'neutral' and cut the price target to 730p from 770p. The bank pointed out that power and recyclate prices are down around 15-20% since October, but Pennon has outperformed UK utilities by around 9%. CS cut its full year Marc
Read moreDirector dealing: Shire board shell out
15th Feb 2016 15:13
(ShareCast News) - With Shire shares almost £20 short of last year's all-time high, the drug developer's chairwoman, chief executive and a clutch of senior directors have splashed some cash to show what they think of the valuation. Seven board members put their money where their mouths were, having
Read moreThursday broker round-up
11th Feb 2016 13:52
(ShareCast News) - ARM Holdings: JP Morgan reiterates neutral with a target of 950p, Exane BNP Paribas keeps at outperform, 1300p target, Deutsche Bank stays at hold, 1000p target, Goldman Sachs maintains buy with a target of 1400p, Citigroup keeps at neutral and Bryan, Garnier & Co reiterates buy.
Read moreBroker tips: Smith & Nephew, Pennon, Halma
11th Feb 2016 11:55
(ShareCast News) - Smith & Nephew shares plunged on Thursday after UBS downgraded the company to 'neutral' on concerns about margin expansion. The investment bank said in a note that it has previously rated the company at 'buy' on the opportunity for margin expansion driven by a recovery in the Woun
Read moreBryan Garnier downgrades Pennon on valuation
11th Feb 2016 10:03
(ShareCast News) - Bryan Garnier downgraded its rating on Pennon Group to 'sell' from 'neutral' following a fairly strong relative performance over the past six months and the fact it is now trading just 9% below its all-time high. "We appreciate the group's strategy, especially in the waste busines
Read morePennon on target to meet full year expectations
11th Feb 2016 09:30
(ShareCast News) - Water utility and waste management company Pennon Group said it was on track to meet management expectations for the year ending 31 March thanks to solid performances across its divisions. The company said its return on regulated equity - a measure of the return the company earns
Read morePennon Group creates group CEO role
9th Dec 2015 07:52
(ShareCast News) - Pennon Group has created a new group chief executive role following a review of the water and waste company's corporate structure. Christopher Loughlin, who is currently the chief executive of its subsidiary South West Water, will take up the role on 1 January. Dr Stephen Bird, w
Read moreInvestec downgrades Pennon Group on strong share performance
30th Nov 2015 09:56
(ShareCast News) - Investec has downgraded Pennon Group from 'buy' to 'hold' after the company's strong share performance. The FTSE 250 water company posted a rise in first half profit and earnings on Friday despite a small drop in revenue, as all businesses across the group performed well. For the
Read morePennon posts rise in first half profit, lifts dividend
27th Nov 2015 07:35
(ShareCast News) - FTSE 250 water company Pennon posted a rise in first half profit and earnings despite a small drop in revenue, as all businesses across the group performed well. For the half year to the end of September, pre-tax profit rose 6.8% from the same period last year to £106.8m, while ea
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