Drax Group (LON:DRX) Reaches New 52-Week High at $507.50

Drax Group plc (LON:DRX)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 507.50 ($6.63) and last traded at GBX 503 ($6.57), with a volume of 1249511 shares trading hands. The stock had previously closed at GBX 490.80 ($6.41).

Several research firms have issued reports on DRX. Credit Suisse Group reiterated an “outperform” rating and issued a GBX 450 ($5.88) target price on shares of Drax Group in a research note on Monday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a GBX 650 ($8.49) target price on shares of Drax Group in a research note on Wednesday, August 11th. Finally, JPMorgan Chase & Co. lifted their target price on Drax Group from GBX 360 ($4.70) to GBX 500 ($6.53) and gave the company an “overweight” rating in a research note on Wednesday, June 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Drax Group currently has a consensus rating of “Buy” and a consensus price target of GBX 509 ($6.65).

The firm has a market cap of £2.04 billion and a PE ratio of -25.77. The company has a quick ratio of 0.51, a current ratio of 1.16 and a debt-to-equity ratio of 113.43. The stock has a 50 day moving average price of GBX 422.50 and a two-hundred day moving average price of GBX 422.01.

The firm also recently declared a dividend, which will be paid on Friday, October 8th. Stockholders of record on Thursday, August 26th will be paid a dividend of GBX 7.50 ($0.10) per share. The ex-dividend date of this dividend is Thursday, August 26th. This represents a dividend yield of 1.86%. Drax Group’s payout ratio is -0.88%.

Drax Group Company Profile (LON:DRX)

Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity in the United Kingdom. The company operates through three segments: Generation, Customers, and, Pellet Production. It produces low carbon and renewable electricity; and provides system support services to the electricity grid.

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