Drax Group (LON:DRX) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Drax Group plc (LON:DRX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 775.68 and traded as high as GBX 881. Drax Group shares last traded at GBX 863, with a volume of 784,333 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DRX shares. Jefferies Financial Group lifted their price target on shares of Drax Group from GBX 750 to GBX 1,120 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Citigroup raised their price objective on Drax Group from GBX 850 to GBX 923 and gave the stock a “buy” rating in a report on Thursday, February 12th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of GBX 998.25.

Drax Group Stock Down 0.1%

The company has a market cap of £2.92 billion, a P/E ratio of 42.67, a P/E/G ratio of 0.10 and a beta of 0.74. The company has a quick ratio of 0.32, a current ratio of 1.07 and a debt-to-equity ratio of 67.01. The business’s 50 day moving average is GBX 880.64 and its 200 day moving average is GBX 776.83.

Drax Group (LON:DRX) last announced its earnings results on Thursday, February 26th. The company reported GBX 137.70 earnings per share (EPS) for the quarter. Drax Group had a return on equity of 3.94% and a net margin of 1.35%. As a group, equities analysts anticipate that Drax Group plc will post 97.4732006 earnings per share for the current fiscal year.

Drax Group Company Profile

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid. The Customers segment supplies electricity and gas to non-domestic customers. The company owns and operates Drax Power Station located in Selby, North Yorkshire; Cruachan Power Station, a pumped storage hydro station, with an installed capacity of 440 megawatts (MW) located in Argyll and Bute; and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland.