Drax Group (DRX) Price Target Cut to GBX 312 by Analysts at Citigroup

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Drax Group (LON:DRX) had its price objective trimmed by Citigroup from GBX 320 ($4.18) to GBX 312 ($4.08) in a research report released on Thursday morning. The firm currently has a sell rating on the stock.

A number of other research analysts also recently weighed in on DRX. Deutsche Bank reiterated a hold rating on shares of Drax Group in a research report on Wednesday, February 27th. Royal Bank of Canada reduced their price target on shares of Drax Group from GBX 500 ($6.53) to GBX 460 ($6.01) and set a top pick rating for the company in a research report on Tuesday, February 26th. HSBC upgraded shares of Drax Group to a buy rating and reduced their price target for the stock from GBX 440 ($5.75) to GBX 430 ($5.62) in a research report on Tuesday, December 4th. Finally, Morgan Stanley restated an equal weight rating on shares of Drax Group in a research report on Thursday, December 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of GBX 398.67 ($5.21).

Shares of Drax Group stock opened at GBX 380.80 ($4.98) on Thursday. The stock has a market capitalization of $1.49 billion and a price-to-earnings ratio of 77.71. Drax Group has a fifty-two week low of GBX 263.60 ($3.44) and a fifty-two week high of GBX 432.40 ($5.65). The company has a debt-to-equity ratio of 34.34, a current ratio of 0.82 and a quick ratio of 0.44.

The business also recently declared a dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, April 18th will be given a dividend of GBX 8.50 ($0.11) per share. This represents a dividend yield of 2.28%. The ex-dividend date is Thursday, April 18th. This is an increase from Drax Group’s previous dividend of $5.60. Drax Group’s dividend payout ratio is 2.86%.

In related news, insider Will Gardiner sold 104,993 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of GBX 373 ($4.87), for a total transaction of £391,623.89 ($511,725.98).

About Drax Group

Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity in the United Kingdom. It operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. The company owns and operates Drax Power Station that produces electricity from biomass located in Selby, North Yorkshire; and develops open-cycle gas turbine projects.

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Analyst Recommendations for Drax Group (LON:DRX)

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