Drax Group Plc (LON:DRX) Receives Consensus Rating of “Hold” from Brokerages
Drax Group Plc (LON:DRX) has been assigned a consensus recommendation of “Hold” from the sixteen analysts that are currently covering the firm. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is GBX 287.77 ($3.76).
Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a GBX 370 ($4.83) price target on shares of Drax Group Plc in a research note on Thursday, September 15th. Credit Suisse Group AG reissued an “outperform” rating and issued a GBX 415 ($5.42) price target 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 target for the company in a research note on Wednesday, August 24th. Barclays PLC reissued an “overweight” rating on shares of Drax Group Plc in a research note on Friday, August 19th. Finally, HSBC raised Drax Group Plc to a “hold” rating in a research note on Friday, August 12th.
Drax Group Plc (LON:DRX) opened at 312.60 on Thursday. The company’s market cap is GBX 1.27 billion. The stock’s 50 day moving average price is GBX 312.52 and its 200 day moving average price is GBX 308.12. Drax Group Plc has a 12-month low of GBX 205.10 and a 12-month high of GBX 363.90.
The company also recently declared a dividend, which will be paid on Friday, October 7th. Shareholders of record on Thursday, September 22nd will be issued a GBX 2.10 ($0.03) dividend. The ex-dividend date is Thursday, September 22nd. This represents a yield of 0.61%. This is a positive change from Drax Group Plc’s previous dividend of $0.60.
About Drax Group Plc
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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