Drax Group (DRX) Raised to “Outperform” at BNP Paribas

BNP Paribas upgraded shares of Drax Group (LON:DRX) to an outperform rating in a research report report published on Thursday.

A number of other analysts also recently commented on DRX. Deutsche Bank decreased their target price on Drax Group from GBX 310 ($4.35) to GBX 300 ($4.21) and set a hold rating on the stock in a research report on Wednesday, December 6th. JPMorgan Chase decreased their target price on Drax Group from GBX 390 ($5.47) to GBX 380 ($5.33) and set an overweight rating on the stock in a research report on Thursday, December 7th. Credit Suisse Group decreased their target price on Drax Group from GBX 370 ($5.19) to GBX 350 ($4.91) and set an outperform rating on the stock in a research report on Thursday, December 21st. Morgan Stanley reduced their price objective on Drax Group from GBX 330 ($4.63) to GBX 300 ($4.21) and set an equal weight rating on the stock in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada restated an outperform rating and issued a GBX 400 ($5.61) price objective on shares of Drax Group in a research report on Tuesday, February 27th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Drax Group presently has a consensus rating of Buy and a consensus target price of GBX 359.23 ($5.04).

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DRX opened at GBX 290.80 ($4.08) on Thursday. Drax Group has a one year low of GBX 218 ($3.06) and a one year high of GBX 368.70 ($5.18).

Drax Group (LON:DRX) last posted its earnings results on Tuesday, February 27th. The company reported GBX 0.70 ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of GBX 1.50 ($0.02) by GBX (0.80) (($0.01)). The firm had revenue of GBX 368.52 billion for the quarter. Drax Group had a negative return on equity of 6.96% and a negative net margin of 3.80%.

The business also recently disclosed a dividend, which will be paid on Friday, May 11th. Stockholders of record on Thursday, April 19th will be given a GBX 7.40 ($0.10) dividend. This is an increase from Drax Group’s previous dividend of $4.90. This represents a dividend yield of 2.92%. The ex-dividend date is Thursday, April 19th.

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About Drax Group

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’s segments include 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.

Analyst Recommendations for Drax Group (LON:DRX)

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