Investec Cuts Greene King plc (GNK) Price Target to GBX 667

Greene King plc (LON:GNK) had its price objective decreased by Investec from GBX 850 ($10.98) to GBX 667 ($8.61) in a research note published on Friday. Investec currently has a hold rating on the stock.

A number of other analysts also recently weighed in on GNK. Deutsche Bank AG restated a buy rating and issued a GBX 875 ($11.30) target price on shares of Greene King plc in a research report on Tuesday, June 20th. Shore Capital restated a buy rating on shares of Greene King plc in a research report on Thursday, June 29th. N+1 Singer restated a hold rating on shares of Greene King plc in a research report on Thursday, June 29th. Numis Securities Ltd restated a hold rating and issued a GBX 670 ($8.65) target price on shares of Greene King plc in a research report on Thursday, June 29th. Finally, J P Morgan Chase & Co downgraded Greene King plc to a neutral rating and lowered their price objective for the company from GBX 810 ($10.46) to GBX 750 ($9.69) in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of GBX 772.25 ($9.97).

Greene King plc (LON GNK) opened at 551.50 on Friday. Greene King plc has a one year low of GBX 549.50 and a one year high of GBX 847.00. The company has a 50-day moving average of GBX 668.80 and a 200-day moving average of GBX 697.20. The company’s market cap is GBX 1.71 billion.

Greene King plc (LON:GNK) last released its earnings results on Thursday, June 29th. The company reported $0.71 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.71. Greene King plc had a return on equity of 7.76% and a net margin of 6.65%. Equities research analysts expect that Greene King plc will post $70.21 EPS for the current fiscal year.

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The firm also recently announced a dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 10th will be paid a dividend of GBX 24.40 ($0.32) per share. The ex-dividend date is Thursday, August 10th. This is a boost from Greene King plc’s previous dividend of $8.80. This represents a dividend yield of 3.54%.

In other news, insider Rooney Anand sold 6,293 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of GBX 693 ($8.95), for a total transaction of £43,610.49 ($56,322.47). Also, insider Gordon Fryett bought 2,000 shares of Greene King plc stock in a transaction dated Monday, August 21st. The shares were acquired at an average cost of GBX 659 ($8.51) per share, for a total transaction of £13,180 ($17,021.83).

About Greene King plc

Greene King plc is an integrated pub retailer and brewer. The Company operates approximately 3,040 managed, tenanted, leased and franchised pubs, restaurants and hotels, including brands, such as Hungry Horse, Chef & Brewer, Flaming Grill, Farmhouse Inns and its Greene King locals estate. The Company’s segments include Pub Company, Pub Partners, and Brewing & Brands.

Analyst Recommendations for Greene King plc (LON:GNK)

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