Drax Group (LON:DRX) released its quarterly earnings results on Tuesday. The company reported GBX 0.70 ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of GBX 1.50 ($0.02) by GBX (0.80) (($0.01)), Digital Look Earnings reports. Drax Group had a negative return on equity of 6.96% and a negative net margin of 3.80%. The firm had revenue of £36,852 billion for the quarter.
Drax Group (DRX) traded up GBX 4.40 ($0.06) on Thursday, hitting GBX 253 ($3.50). 706,090 shares of the company traded hands, compared to its average volume of 777,918. Drax Group has a twelve month low of GBX 218 ($3.01) and a twelve month high of GBX 368.70 ($5.09). The firm has a market capitalization of $1,030.00 and a PE ratio of -683.78.
Several research firms have issued reports on DRX. Morgan Stanley decreased their price target on shares of Drax Group from GBX 330 ($4.56) to GBX 300 ($4.14) and set an “equal weight” rating on the stock in a research note on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 400 ($5.53) price target on shares of Drax Group in a research note on Tuesday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 350 ($4.84) price target on shares of Drax Group in a research note on Wednesday. Deutsche Bank decreased their target price on shares of Drax Group from GBX 310 ($4.28) to GBX 300 ($4.14) and set a “hold” rating on the stock in a research report on Wednesday, December 6th. Finally, Credit Suisse Group decreased their target price on shares of Drax Group from GBX 370 ($5.11) to GBX 350 ($4.84) and set an “outperform” rating on the stock in a research report on Thursday, December 21st. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of GBX 359.23 ($4.96).
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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