Greene King plc (GNK) Price Target Cut to GBX 850

Greene King plc (LON:GNK) had its price objective dropped by equities research analysts at Canaccord Genuity from GBX 900 ($11.25) to GBX 850 ($10.62) in a research note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price indicates a potential upside of 29.28% from the stock’s previous close.

GNK has been the subject of several other research reports. Beaufort Securities reiterated a “buy” rating on shares of Greene King plc in a research note on Thursday, December 1st. Investec reiterated a “buy” rating and issued a GBX 882 ($11.02) price objective on shares of Greene King plc in a research note on Wednesday, November 16th. Numis Securities Ltd reiterated an “add” rating and issued a GBX 885 ($11.06) price objective on shares of Greene King plc in a research note on Wednesday, November 30th. N+1 Singer reiterated a “hold” rating and issued a GBX 800 ($10.00) price objective on shares of Greene King plc in a research note on Wednesday, November 30th. Finally, Shore Capital reiterated a “buy” rating on shares of Greene King plc in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of GBX 883.50 ($11.04).

Analyst Recommendations for Greene King plc (LON:GNK)

Shares of Greene King plc (LON:GNK) opened at 648.50 on Friday. Greene King plc has a 1-year low of GBX 647.00 and a 1-year high of GBX 914.00. The firm’s market cap is GBX 2.00 billion. The firm has a 50 day moving average price of GBX 698.14 and a 200 day moving average price of GBX 744.19.

The company also recently declared a dividend, which was paid on Friday, January 20th. Shareholders of record on Thursday, December 15th were issued a GBX 8.80 ($0.11) dividend. This represents a yield of 1.28%. The ex-dividend date was Thursday, December 15th.

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In other Greene King plc news, insider Rooney Anand sold 63,364 shares of the firm’s stock in a transaction on Friday, December 9th. The shares were sold at an average price of GBX 686 ($8.57), for a total value of £434,677.04 ($543,210.50).

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.

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