Greene King (LON:GNK) Receives a Lower Rating From Goldman Sachs. Will This be Detrimental to the Share Price?


Greene King (LON:GNK) Receives a Downgrade

In an analyst note published on 9 December, Goldman Sachs announced a downgrade to shares of Greene King (LON:GNK) to a Neutral rating. The firm has a GBX 1100.00 target on the stock.

From a total of 16 analysts covering Greene King PLC (LON:GNK) stock, 11 rate it a ”Buy”, 2 a “Sell”, and 4 a ”Hold”. This means that 65% of the ratings are positive. The highest target price is GBX 1175 while the lowest target price is GBX 780. The mean of all analyst targets is GBX 982.13 with a 4.53% above today’s (GBX 928) stock price. Greene King PLC was the topic of 35 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Nomura maintained shares on December 8 with “Neutral” rating. Deutsche Bank maintained shares with “Buy” rating and GBX 1175 target share price in a report from a December 3. Jefferies maintained GNK stock in a recent report from December 4 with “Hold” rating. Numis Securities maintained the rating on December 2. Numis Securities has a “Add” rating and a GBX 975 price target on shares. Finally, Barclays Capital maintained the stock with “Overweight” rating in a report issued on a December 3.

The stock decreased 1.59% or GBX 15 on December 9, striking GBX 928. Approximately 1.20M shares of stock traded hands or 66.68% up from the average. Greene King plc (LON:GNK) has risen 13.61% since May 12, 2015 and is uptrending. It has outperformed by 14.41% the S&P500.

 Greene King (LON:GNK) Receives a Lower Rating From Goldman Sachs. Will This be Detrimental to the Share Price?

Greene King plc is a United Kingdom pub and brewing company. The company has a market cap of 2.92 billion GBP. The Firm is engaged in operating over 3,000 managed, tenanted, leased and franchised pubs, restaurants and hotels, and brewing ales. It has 25.69 P/E ratio. The Firm operates through three divisions: Retail, which is engaged in the operation of managed pubs and restaurants; Pub Partners, which is engaged in the operation of tenanted and leased pubs, and Brewing & Brands, which is involved in brewing, marketing and selling beer.

According to Zacks Investment Research, “Genco Shipping & Trading Ltd. is a ship owning company. It transport iron ore, coal, grain, steel products and other drybulk cargoes along shipping routes. The company owned fleet of dry cargo vessels which consists of Capesize, Panamax, Ultramax, Supramax, Handymax and Handysize vessels. Genco Shipping & Trading Ltd. is based in New York, United States.” Get a free copy of the Zacks research report on Greene King plc (GNK).