Jefferies Financial Group Cuts Drax Group (LON:DRX) Price Target to GBX 870

Drax Group (LON:DRX) had its target price trimmed by Jefferies Financial Group from GBX 920 to GBX 870 in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently commented on the company. Citigroup dropped their price objective on Drax Group from GBX 9,230 to GBX 8,160 and set a “neutral” rating for the company in a research report on Friday, June 5th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 1,000 target price on shares of Drax Group in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 3,343.33.

Drax Group Price Performance

Shares of LON:DRX opened at GBX 723.28 on Wednesday. The business’s fifty day moving average price is GBX 755.25 and its two-hundred day moving average price is GBX 828.22. The stock has a market cap of £2.43 billion, a PE ratio of 85.09, a price-to-earnings-growth ratio of 0.10 and a beta of 0.62. The company has a debt-to-equity ratio of 68.79, a quick ratio of 0.32 and a current ratio of 1.07. Drax Group has a one year low of GBX 613.90 and a one year high of GBX 937.50.

Drax Group (LON:DRX) last released its quarterly earnings results on Thursday, July 30th. The company reported GBX 29.80 earnings per share for the quarter. Drax Group had a return on equity of 1.10% and a net margin of 0.37%. On average, analysts forecast that Drax Group will post 97.4732006 EPS for the current fiscal year.

About Drax Group

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.