Analysts Set Drax Group plc (LON:DRX) PT at GBX 509

Drax Group plc (LON:DRX) has earned an average rating of “Buy” from the six research firms that are covering the stock, reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is GBX 509 ($6.65).

Several equities research analysts have recently issued reports on DRX shares. JPMorgan Chase & Co. raised their target price on Drax Group from GBX 360 ($4.70) to GBX 500 ($6.53) and gave the company an “overweight” rating in a research report on Wednesday, June 2nd. Credit Suisse Group reaffirmed an “outperform” rating and set a GBX 450 ($5.88) target price on shares of Drax Group in a research report on Monday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 650 ($8.49) target price on shares of Drax Group in a research report on Wednesday, August 11th.

Shares of Drax Group stock traded up GBX 2.60 ($0.03) during trading hours on Friday, hitting GBX 438.60 ($5.73). 1,500,299 shares of the company’s stock traded hands, compared to its average volume of 1,098,011. Drax Group has a 12-month low of GBX 248.49 ($3.25) and a 12-month high of GBX 459.60 ($6.00). The stock has a market capitalization of £1.75 billion and a price-to-earnings ratio of -22.36. The company has a fifty day simple moving average of GBX 417.73 and a 200-day simple moving average of GBX 418.49. The company has a debt-to-equity ratio of 113.43, a current ratio of 1.16 and a quick ratio of 0.51.

The company also recently disclosed a dividend, which will be paid on Friday, October 8th. Investors of record on Thursday, August 26th will be issued a GBX 7.50 ($0.10) dividend. This represents a yield of 1.86%. The ex-dividend date is Thursday, August 26th. Drax Group’s dividend payout ratio (DPR) is currently -0.88%.

About Drax Group

Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity in the United Kingdom. The company operates through three segments: Generation, Customers, and, Pellet Production. It produces low carbon and renewable electricity; and provides system support services to the electricity grid.

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Analyst Recommendations for Drax Group (LON:DRX)

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