Drax Group Plc (LON:DRX)‘s stock had its “underperform” rating restated by analysts at Royal Bank Of Canada in a research report issued on Tuesday. They currently have a GBX 280 ($3.65) price objective on the stock. Royal Bank Of Canada’s price target indicates a potential downside of 7.71% from the stock’s previous close.
A number of other equities research analysts have also weighed in on DRX. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a GBX 370 ($4.83) price target on shares of Drax Group Plc in a report on Thursday, September 15th. BNP Paribas lowered shares of Drax Group Plc to a “neutral” rating and set a GBX 340 ($4.44) price target for the company. in a report on Wednesday, July 27th. Deutsche Bank AG raised their price target on shares of Drax Group Plc from GBX 250 ($3.26) to GBX 300 ($3.92) and gave the company a “hold” rating in a report on Wednesday, July 27th. Barclays PLC reaffirmed an “overweight” rating on shares of Drax Group Plc in a report on Friday, August 19th. Finally, Macquarie raised their price target on shares of Drax Group Plc from GBX 200 ($2.61) to GBX 313 ($4.09) and gave the company a “neutral” rating in a report on Monday, June 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Drax Group Plc presently has an average rating of “Hold” and an average target price of GBX 288.81 ($3.77).
Drax Group Plc (LON:DRX) opened at 303.40 on Tuesday. The firm has a 50-day moving average of GBX 308.89 and a 200-day moving average of GBX 311.27. Drax Group Plc has a 1-year low of GBX 205.10 and a 1-year high of GBX 363.90. The firm’s market capitalization is GBX 1.23 billion.
The firm also recently declared a dividend, which will be paid on Friday, October 7th. Stockholders of record on Thursday, September 22nd will be given a GBX 2.10 ($0.03) dividend. This is an increase from Drax Group Plc’s previous dividend of $0.60. This represents a dividend yield of 0.61%. The ex-dividend date is Thursday, September 22nd.
About Drax Group Plc
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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