Drax Group Plc (LON:DRX) Set to Announce Earnings on Wednesday

Drax Group Plc (LON:DRX) will be issuing its quarterly earnings data before the market opens on Wednesday, July 19th.

Shares of Drax Group Plc (LON DRX) opened at 346.90 on Tuesday. The stock has a 50 day moving average price of GBX 338.72 and a 200 day moving average price of GBX 344.89. The firm’s market cap is GBX 1.41 billion. Drax Group Plc has a 12 month low of GBX 273.10 and a 12 month high of GBX 393.20.

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A number of equities analysts recently weighed in on the stock. Deutsche Bank AG reaffirmed a “hold” rating and issued a GBX 310 ($4.05) target price on shares of Drax Group Plc in a research note on Monday, June 12th. Jefferies Group LLC raised shares of Drax Group Plc to a “buy” rating and upped their target price for the stock from GBX 305 ($3.98) to GBX 400 ($5.22) in a research note on Tuesday, May 2nd. Credit Suisse Group reaffirmed an “outperform” rating and issued a GBX 400 ($5.22) target price on shares of Drax Group Plc in a research note on Monday, June 19th. Barclays PLC raised shares of Drax Group Plc to an “overweight” rating and upped their target price for the stock from GBX 400 ($5.22) to GBX 410 ($5.35) in a research note on Friday, April 28th. Finally, HSBC Holdings plc reduced their target price on shares of Drax Group Plc from GBX 410 ($5.35) to GBX 340 ($4.44) and set a “hold” rating for the company in a research note on Wednesday, March 29th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. Drax Group Plc presently has an average rating of “Hold” and an average price target of GBX 385.07 ($5.03).

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’s segments include 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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