Drax Group Plc (LON:DRX) Receives Consensus Rating of “Hold” from Brokerages
Shares of Drax Group Plc (LON:DRX) have been assigned an average recommendation of “Hold” from the sixteen ratings firms that are presently covering the company. Two research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is GBX 287.77 ($3.76).
Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Drax Group Plc from GBX 260 ($3.39) to GBX 350 ($4.57) and gave the company a “neutral” rating in a research report on Friday, July 22nd. Deutsche Bank AG reissued a “hold” rating and issued a GBX 250 ($3.26) price objective on shares of Drax Group Plc in a research report on Wednesday, July 20th. Credit Suisse Group AG raised their target price on Drax Group Plc from GBX 325 ($4.24) to GBX 415 ($5.42) and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. BNP Paribas cut Drax Group Plc to a “neutral” rating and set a GBX 340 ($4.44) target price for the company. in a research report on Wednesday, July 27th. Finally, Citigroup Inc. cut Drax Group Plc to a “sell” rating in a research report on Wednesday, August 3rd.
Shares of Drax Group Plc (LON:DRX) opened at 312.60 on Thursday. The firm’s market cap is GBX 1.27 billion. The company has a 50-day moving average of GBX 312.52 and a 200 day moving average of GBX 308.12. Drax Group Plc has a 12-month low of GBX 205.10 and a 12-month high of GBX 363.90.
The firm also recently announced a dividend, which will be paid on Friday, October 7th. Stockholders of record on Thursday, September 22nd will be paid a GBX 2.10 ($0.03) dividend. The ex-dividend date of this dividend is Thursday, September 22nd. This is a positive change from Drax Group Plc’s previous dividend of $0.60. This represents a dividend yield of 0.61%.
Drax Group Plc Company Profile
Drax Group Plc is engaged in the electricity generation; electricity supply to business customers, and manufacturing of sustainable compressed wood pellets for use in electricity production. The Company operates through three segments: Generation, which is engaged in the generation of electricity at Drax Power Station; Biomass Supply, which is engaged in the production of sustainable compressed wood pellets at its processing facilities in the United States, and Retail, which is engaged in the supply of power to business customers and wood pellets to the domestic heat market.
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