Drax Group plc (LON:DRX – Get Free Report) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 808.27 and traded as high as GBX 830. Drax Group shares last traded at GBX 827.50, with a volume of 603,266 shares.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Jefferies Financial Group decreased their price objective on Drax Group from GBX 920 to GBX 870 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Citigroup cut their target price on Drax Group from GBX 9,230 to GBX 8,160 and set a “neutral” rating for the company in a research note on Friday, June 5th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Drax Group currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 3,343.33.
Drax Group Price Performance
Drax Group (LON:DRX – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported GBX 29.80 EPS for the quarter. Drax Group had a return on equity of 1.10% and a net margin of 0.37%. Sell-side analysts expect that Drax Group plc will post 97.4732006 EPS for the current fiscal year.
Drax Group Company Profile
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.
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