Drax Group (LON:DRX) Announces Quarterly Earnings Results

Key Points

• Drax Group reported a quarterly earnings per share (EPS) of GBX 65.60 ($0.87) with a net margin of 9.42% and return on equity of 31.63%.
• The company's stock price fell by 3.0% to GBX 686.34 ($9.07), with a market capitalization of £2.52 billion.
• Analysts have upgraded Drax Group's stock ratings, with JPMorgan Chase & Co. setting a price target of GBX 1,000 ($13.21) and Citigroup raising their target to GBX 682 ($9.01).

Drax Group (LON:DRX - Get Free Report) released its quarterly earnings results on Thursday. The company reported GBX 65.60 ($0.87) EPS for the quarter, Digital Look Earnings reports. Drax Group had a net margin of 9.42% and a return on equity of 31.63%.

Drax Group Trading Down 3.0%

DRX stock traded down GBX 21.16 ($0.28) during midday trading on Friday, reaching GBX 686.34 ($9.07). 1,424,093 shares of the company's stock traded hands, compared to its average volume of 2,158,559. The company has a market capitalization of £2.52 billion, a P/E ratio of 4.07, a PEG ratio of 0.10 and a beta of 1.22. The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32. Drax Group has a fifty-two week low of GBX 534.50 ($7.06) and a fifty-two week high of GBX 727 ($9.60). The business has a 50-day moving average price of GBX 674.79 and a two-hundred day moving average price of GBX 626.97.

Analyst Upgrades and Downgrades

Several research firms recently commented on DRX. JPMorgan Chase & Co. began coverage on shares of Drax Group in a research report on Friday, July 4th. They issued an "overweight" rating and a GBX 1,000 ($13.21) price target for the company. Citigroup upgraded shares of Drax Group to a "neutral" rating and upped their price objective for the stock from GBX 529 ($6.99) to GBX 682 ($9.01) in a research report on Monday.

Insiders Place Their Bets

In other Drax Group news, insider Will Gardiner sold 150,000 shares of Drax Group stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of GBX 660 ($8.72), for a total transaction of £990,000 ($1,307,793.92). 0.67% of the stock is currently owned by company insiders.

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.

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