Brokerages Set Drax Group (DRX) Price Target at $349.09

Shares of Drax Group (LON:DRX) have received a consensus rating of “Buy” from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is GBX 349.09 ($4.74).

Several research firms have weighed in on DRX. Royal Bank of Canada lowered their target price on Drax Group from GBX 400 ($5.43) to GBX 370 ($5.02) and set an “outperform” rating on the stock in a report on Wednesday, April 11th. BNP Paribas upgraded Drax Group to an “outperform” rating in a report on Thursday, April 5th. Credit Suisse Group reiterated an “outperform” rating and set a GBX 350 ($4.75) target price on shares of Drax Group in a report on Friday, March 23rd. JPMorgan Chase reiterated an “overweight” rating and set a GBX 350 ($4.75) target price on shares of Drax Group in a report on Wednesday, February 28th. Finally, Morgan Stanley lowered their target price on Drax Group from GBX 330 ($4.48) to GBX 300 ($4.07) and set an “equal weight” rating for the company in a report on Wednesday, February 28th.

In related news, insider Will Gardiner acquired 31,386 shares of the firm’s stock in a transaction dated Thursday, April 26th. The stock was bought at an average price of GBX 319 ($4.33) per share, for a total transaction of £100,121.34 ($135,813.00).

Drax Group traded up GBX 38.60 ($0.52), reaching GBX 333.80 ($4.53), during mid-day trading on Thursday, Marketbeat Ratings reports. The stock had a trading volume of 1,380,855 shares, compared to its average volume of 1,090,000. Drax Group has a 12 month low of GBX 218 ($2.96) and a 12 month high of GBX 368.70 ($5.00).

Drax Group (LON:DRX) last issued its quarterly earnings results on Tuesday, February 27th. The company reported GBX 0.70 ($0.01) EPS for the quarter, missing analysts’ consensus estimates of GBX 1.50 ($0.02) by GBX (0.80) (($0.01)). Drax Group had a negative return on equity of 6.96% and a negative net margin of 3.80%. The business had revenue of GBX 368.52 billion for the quarter.

The business also recently disclosed a dividend, which was paid on Friday, May 11th. Stockholders of record on Thursday, April 19th were issued a GBX 7.40 ($0.10) dividend. This is a boost from Drax Group’s previous dividend of $4.90. The ex-dividend date was Thursday, April 19th. This represents a dividend yield of 2.92%.

Drax Group Company Profile

Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity in the United Kingdom. It operates through three segments: Generation, Biomass Supply, and Retail. The company owns and operates Drax Power Station that produces electricity from biomass located in Selby, North Yorkshire.

Analyst Recommendations for Drax Group (LON:DRX)

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