Drax Group (LON:DRX) Reaches New 52-Week High - Should You Buy?

Key Points

• Drax Group plc shares reached a new 52-week high, trading at GBX 733.50 ($9.80), with a total volume of 405,379 shares.
• Analysts have a consensus rating of "Moderate Buy" for Drax Group, with a price target of GBX 844.50, while JPMorgan Chase set an "overweight" rating with a GBX 1,000 price objective.
• The company reported a quarterly EPS of GBX 65.60 and has a robust return on equity of 31.63% alongside a net margin of 9.42%.

Shares of Drax Group plc (LON:DRX - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as GBX 733.50 ($9.80) and last traded at GBX 730.50 ($9.76), with a volume of 405379 shares. The stock had previously closed at GBX 726.50 ($9.71).

Analyst Ratings Changes

A number of analysts recently commented on DRX shares. JPMorgan Chase & Co. started coverage on Drax Group in a research report on Friday, July 4th. They set an "overweight" rating and a GBX 1,000 price objective for the company. Citigroup upped their price objective 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 analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of GBX 844.50.

Drax Group Stock Performance

The stock has a market cap of £2.52 billion, a P/E ratio of 6.77, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11. The business has a 50 day moving average price of GBX 688.01 and a two-hundred day moving average price of GBX 659.93.

Drax Group (LON:DRX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported GBX 65.60 EPS for the quarter. Drax Group had a return on equity of 31.63% and a net margin of 9.42%. On average, sell-side analysts forecast that Drax Group plc will post 97.4732006 earnings per share 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.

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