Drax Group (DRX) Reaches New 12-Month Low at $311.80

Drax Group Plc (LON:DRX) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 311.80 ($4.07) and last traded at GBX 313 ($4.09), with a volume of 52920 shares changing hands. The stock had previously closed at GBX 317.20 ($4.14).

DRX has been the subject of a number of analyst reports. HSBC decreased their price objective on shares of Drax Group from GBX 430 ($5.62) to GBX 420 ($5.49) and set a “buy” rating for the company in a report on Monday, January 28th. Deutsche Bank restated a “hold” rating on shares of Drax Group in a report on Wednesday, February 27th. Jefferies Financial Group restated a “hold” rating on shares of Drax Group in a report on Tuesday, April 9th. Citigroup decreased their price objective on shares of Drax Group from GBX 320 ($4.18) to GBX 312 ($4.08) and set a “sell” rating for the company in a report on Thursday, March 14th. Finally, Royal Bank of Canada decreased their price objective on shares of Drax Group from GBX 500 ($6.53) to GBX 460 ($6.01) and set a “top pick” rating for the company in a report on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of GBX 376.17 ($4.92).

The firm has a market cap of $1.23 billion and a PE ratio of 63.55. The company has a debt-to-equity ratio of 34.34, a quick ratio of 0.38 and a current ratio of 0.82.

The company also recently disclosed a dividend, which was paid on Friday, May 10th. Investors of record on Thursday, April 18th were issued a dividend of GBX 8.50 ($0.11) per share. The ex-dividend date was Thursday, April 18th. This represents a yield of 2.28%. This is a boost from Drax Group’s previous dividend of $5.60. Drax Group’s payout ratio is currently 2.86%.

In related news, insider Andy Skelton purchased 15,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were purchased at an average price of GBX 331 ($4.33) per share, with a total value of £49,650 ($64,876.52). Also, insider Will Gardiner sold 104,993 shares of Drax Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of GBX 373 ($4.87), for a total transaction of £391,623.89 ($511,725.98).

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About Drax Group (LON:DRX)

Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity. The company operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. It produces low carbon and renewable electricity; and provides system support services to the grid from a portfolio of biomass, hydro, gas, and coal technologies.

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