Drax Group Plc (LON:DRX) was downgraded by research analysts at Jefferies Group to an “underperform” rating in a report released on Thursday. They presently have a GBX 240 ($3.13) price target on the stock, up from their prior price target of GBX 210 ($2.74). Jefferies Group’s price target would suggest a potential downside of 23.81% from the company’s previous close.
Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a GBX 370 ($4.83) price objective on shares of Drax Group Plc in a research note on Thursday, September 15th. Credit Suisse Group AG reissued an “outperform” rating and set a GBX 415 ($5.42) price objective on shares of Drax Group Plc in a research note on Thursday, September 8th. Citigroup Inc. raised Drax Group Plc to a “neutral” rating and set a GBX 305 ($3.98) price objective for the company in a research note on Wednesday, August 24th. Barclays PLC reaffirmed an “overweight” rating on shares of Drax Group Plc in a research report on Friday, August 19th. Finally, HSBC raised Drax Group Plc to a “hold” rating in a research report on Friday, August 12th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Drax Group Plc presently has a consensus rating of “Hold” and an average target price of GBX 282.56 ($3.69).
Shares of Drax Group Plc (LON:DRX) opened at 311.6758 on Thursday. The stock’s market cap is GBX 1.27 billion. The stock has a 50 day moving average price of GBX 312.25 and a 200 day moving average price of GBX 308.78. Drax Group Plc has a 12 month low of GBX 205.10 and a 12 month high of GBX 363.90.
The firm also recently disclosed a dividend, which will be paid on Friday, October 7th. Stockholders of record on Thursday, September 22nd will be paid a GBX 2.10 ($0.03) dividend. The ex-dividend date of this dividend is Thursday, September 22nd. This is a positive change from Drax Group Plc’s previous dividend of $0.60. This represents a dividend yield of 0.61%.
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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