Drax Group (LON:DRX) insider Will Gardiner bought 31,386 shares of the stock in a transaction dated Thursday, April 26th. The shares were acquired at an average cost of GBX 319 ($4.45) per share, for a total transaction of £100,121.34 ($139,639.25).
LON DRX opened at GBX 313 ($4.37) on Friday. Drax Group has a 1 year low of GBX 218 ($3.04) and a 1 year high of GBX 368.70 ($5.14).
Drax Group (LON:DRX) last posted its quarterly earnings results on Tuesday, February 27th. The company reported GBX 0.70 ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company also recently declared a dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, April 19th will be given a dividend of GBX 7.40 ($0.10) per share. This is a positive change from Drax Group’s previous dividend of $4.90. The ex-dividend date is Thursday, April 19th. This represents a dividend yield of 2.92%.
Several research analysts have recently commented on the stock. Royal Bank of Canada lowered their target price on shares of Drax Group from GBX 400 ($5.58) to GBX 370 ($5.16) and set an “outperform” rating on the stock in a report on Wednesday, April 11th. Morgan Stanley lowered their target price on shares of Drax Group from GBX 330 ($4.60) to GBX 300 ($4.18) and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. BNP Paribas raised shares of Drax Group to an “outperform” rating and set a GBX 400 ($5.58) target price on the stock in a report on Friday, March 2nd. Credit Suisse Group lowered their target price on shares of Drax Group from GBX 370 ($5.16) to GBX 350 ($4.88) and set an “outperform” rating on the stock in a report on Tuesday, January 2nd. Finally, JPMorgan Chase reaffirmed an “overweight” rating and set a GBX 350 ($4.88) target price on shares of Drax Group in a report on Wednesday, February 28th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Drax Group currently has a consensus rating of “Buy” and a consensus price target of GBX 356.92 ($4.98).
About Drax Group
Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity in the United Kingdom. It operates through three segments: Generation, Biomass Supply, and Retail. The company owns and operates Drax Power Station that produces electricity from biomass located in Selby, North Yorkshire.
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