Drax Group (LON:DRX) Reaches New 12-Month High – What’s Next?

Shares of Drax Group plc (LON:DRX) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 733.50 ($9.77) and last traded at GBX 730.50 ($9.73), with a volume of 405379 shares. The stock had previously closed at GBX 726.50 ($9.67).

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on Drax Group in a research report on Friday, July 4th. They set an “overweight” rating and a GBX 1,000 price target on the stock. Citigroup raised their target price on Drax Group from GBX 682 to GBX 689 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 844.50.

Drax Group Stock Performance

The firm has a market cap of £2.53 billion, a PE ratio of 6.79, a P/E/G ratio of 0.10 and a beta of 1.22. The firm has a 50-day moving average price of GBX 689.38 and a two-hundred day moving average price of GBX 662.36. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11.

Drax Group (LON:DRX) last released its earnings results on Thursday, July 31st. The company reported GBX 65.60 earnings per share for the quarter. Drax Group had a return on equity of 31.63% and a net margin of 9.42%. Research analysts forecast 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.