Drax Group (LON:DRX) Announces Quarterly Earnings Results

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

Drax Group Stock Down 0.8 %

Shares of DRX stock traded down GBX 5.04 ($0.06) during mid-day trading on Thursday, hitting GBX 636.46 ($8.07). 2,886,959 shares of the stock traded hands, compared to its average volume of 1,372,691. The stock’s fifty day moving average is GBX 631.02 and its two-hundred day moving average is GBX 641.03. The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32. Drax Group has a 52-week low of GBX 407.40 ($5.17) and a 52-week high of GBX 692 ($8.78). The stock has a market cap of £2.33 billion, a P/E ratio of 3.78, a P/E/G ratio of 0.10 and a beta of 1.22.

Analysts Set New Price Targets

DRX has been the subject of several recent research reports. Citigroup reiterated a “sell” rating and issued a GBX 529 ($6.71) price target on shares of Drax Group in a research report on Tuesday, February 11th. JPMorgan Chase & Co. raised their price target on Drax Group from GBX 850 ($10.78) to GBX 900 ($11.41) and gave the stock an “overweight” rating 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.