Drax Group (LON:DRX) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Drax Group plc (LON:DRX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 842.62 and traded as high as GBX 846.50. Drax Group shares last traded at GBX 846.50, with a volume of 54,876,262 shares.

Analyst Ratings Changes

A number of equities research analysts have commented on DRX shares. Royal Bank Of Canada restated an “outperform” rating and set a GBX 1,000 target price on shares of Drax Group in a research note on Wednesday, May 6th. Citigroup increased their price objective on shares of Drax Group from GBX 850 to GBX 923 and gave the company a “buy” rating in a report on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of GBX 1,010.75.

Drax Group Stock Performance

The company has a debt-to-equity ratio of 67.01, a quick ratio of 0.32 and a current ratio of 1.07. The business’s fifty day simple moving average is GBX 869.72 and its 200-day simple moving average is GBX 842.62. The firm has a market capitalization of £2.83 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 0.10 and a beta of 0.66.

Drax Group (LON:DRX) last announced its quarterly earnings data on Thursday, February 26th. The company reported GBX 137.70 earnings per share (EPS) for the quarter. Drax Group had a net margin of 1.35% and a return on equity of 3.94%. As a group, equities research analysts expect that Drax Group plc will post 97.4732006 EPS for the current year.

About Drax Group

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid. The Customers segment supplies electricity and gas to non-domestic customers. The company owns and operates Drax Power Station located in Selby, North Yorkshire; Cruachan Power Station, a pumped storage hydro station, with an installed capacity of 440 megawatts (MW) located in Argyll and Bute; and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland.