Drax Group (LON:DRX) Issues Earnings Results

Drax Group (LON:DRX) announced its quarterly earnings results on Thursday. The company reported GBX 128.40 ($1.63) earnings per share for the quarter, Digital Look Earnings reports. Drax Group had a return on equity of 31.63% and a net margin of 9.42%.

Drax Group Price Performance

Shares of Drax Group stock traded down GBX 5.04 ($0.06) during trading hours on Thursday, reaching GBX 636.46 ($8.07). 2,886,959 shares of the company’s stock were exchanged, compared to its average volume of 1,372,691. The business has a fifty day moving average of GBX 631.02 and a two-hundred day moving average of GBX 641.03. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11. The company has a market capitalization of £2.33 billion, a P/E ratio of 3.78, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. Drax Group has a 1 year low of GBX 407.40 ($5.17) and a 1 year high of GBX 692 ($8.78).

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Drax Group from GBX 850 ($10.78) to GBX 900 ($11.41) and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Citigroup reiterated a “sell” rating and issued a GBX 529 ($6.71) target price on shares of Drax Group in a research report on Tuesday, February 11th.

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.