Drax Group Plc (DRX) Given “Underperform” Rating at Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their underperform rating on shares of Drax Group Plc (LON:DRX) in a research note published on Tuesday morning. The brokerage currently has a GBX 280 ($3.65) target price on the stock.
Several other research firms have also recently issued reports on DRX. JPMorgan Chase & Co. lifted their price objective on Drax Group Plc from GBX 260 ($3.39) to GBX 350 ($4.57) and gave the stock a neutral rating in a report on Friday, July 22nd. Deutsche Bank AG reiterated a hold rating and issued a GBX 250 ($3.26) price objective on shares of Drax Group Plc in a report on Wednesday, July 20th. Credit Suisse Group AG lifted their price objective on Drax Group Plc from GBX 325 ($4.24) to GBX 415 ($5.42) and gave the stock an outperform rating in a report on Wednesday, July 27th. BNP Paribas cut Drax Group Plc to a neutral rating and set a GBX 340 ($4.44) target price on the stock. in a report on Wednesday, July 27th. Finally, Citigroup Inc. cut Drax Group Plc to a sell rating in a report on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Drax Group Plc currently has a consensus rating of Hold and an average target price of GBX 288.81 ($3.77).
Drax Group Plc (LON:DRX) traded down 0.36% during trading on Tuesday, hitting GBX 305.70. The stock had a trading volume of 299,679 shares. The firm’s 50-day moving average price is GBX 309.22 and its 200-day moving average price is GBX 311.10. The company’s market cap is GBX 1.24 billion. Drax Group Plc has a 52-week low of GBX 205.10 and a 52-week high of GBX 363.90.
The company also recently announced a dividend, which will be paid on Friday, October 7th. Shareholders of record on Thursday, September 22nd will be paid a dividend of GBX 2.10 ($0.03) per share. This represents a yield of 0.61%. This is a positive change from Drax Group Plc’s previous dividend of $0.60. The ex-dividend date of this dividend is Thursday, September 22nd.
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 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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