Drax Group (LON:DRX) Hits New 12-Month High - Here's What Happened

Key Points

• Drax Group's share price hit a new 52-week high at GBX 729.50 ($9.78) during trading, closing at GBX 710.50 ($9.52) with over 474,000 shares exchanged.
• Analysts have a mixed outlook, with Citigroup boosting its price target to GBX 689 while JPMorgan Chase rates it as "overweight" with a target price of GBX 1,000.
• The company reported GBX 65.60 EPS in its last quarterly earnings, with an anticipated earnings per share of approximately 97.47 for the current fiscal year.

Drax Group plc (LON:DRX - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as GBX 729.50 ($9.78) and last traded at GBX 710.50 ($9.52), with a volume of 474446 shares trading hands. The stock had previously closed at GBX 714 ($9.57).

Analyst Ratings Changes

Several equities research analysts recently issued reports on DRX shares. Citigroup boosted their price target on Drax Group from GBX 682 to GBX 689 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. started coverage on Drax Group in a research note on Friday, July 4th. They set an "overweight" rating and a GBX 1,000 target price for the company. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of GBX 844.50.

Drax Group Stock Performance

The company has a market cap of £2.46 billion, a PE ratio of 662.49, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. The company has a debt-to-equity ratio of 64.11, a quick ratio of 0.32 and a current ratio of 1.26. The company's 50 day moving average price is GBX 685.03 and its 200-day moving average price is GBX 655.44.

Drax Group (LON:DRX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported GBX 65.60 EPS for the quarter. Drax Group had a net margin of 9.42% and a return on equity of 31.63%. Equities research analysts anticipate that Drax Group plc will post 97.4732006 earnings per share for the current fiscal year.

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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