Drax Group (LON:DRX) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Drax Group plc (LON:DRX) shares crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of GBX 805.83 and traded as high as GBX 828.50. Drax Group shares last traded at GBX 815.50, with a volume of 32,538,307 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Drax Group from GBX 920 to GBX 870 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Citigroup reduced their price objective on shares of Drax Group from GBX 9,230 to GBX 8,160 and set a “neutral” rating on the stock in a research note on Friday, June 5th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Drax Group has an average rating of “Moderate Buy” and an average price target of GBX 3,343.33.

Drax Group Price Performance

The company has a fifty day moving average of GBX 771.48 and a 200 day moving average of GBX 805.25. The firm has a market capitalization of £2.73 billion, a P/E ratio of 95.53, a PEG ratio of 0.10 and a beta of 0.62. The company has a debt-to-equity ratio of 68.79, a current ratio of 1.07 and a quick ratio of 0.32.

Drax Group (LON:DRX) last released its quarterly earnings results on Thursday, July 30th. The company reported GBX 29.80 earnings per share (EPS) for the quarter. Drax Group had a net margin of 0.37% and a return on equity of 1.10%. Sell-side analysts predict that Drax Group plc will post 97.4732006 earnings per share 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.