Drax Group (LON:DRX) Releases Earnings Results

Drax Group (LON:DRX) issued its 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 Stock Down 0.8 %

LON:DRX 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 company’s stock were exchanged, compared to its average volume of 1,372,691. The company has a market cap of £2.33 billion, a PE ratio of 3.78, a P/E/G ratio of 0.10 and a beta of 1.22. 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 one year low of GBX 407.40 ($5.17) and a one year high of GBX 692 ($8.78). The business has a fifty day moving average price of GBX 631.02 and a 200 day moving average price of GBX 641.03.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Citigroup reissued a “sell” rating and set a GBX 529 ($6.71) price objective on shares of Drax Group in a research note on Tuesday, February 11th. JPMorgan Chase & Co. increased their price target on shares of 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.

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.