Drax Group (LON:DRX) Releases Quarterly Earnings Results

Drax Group (LON:DRX) issued its earnings results on Thursday. The company reported GBX 128.40 ($1.62) earnings per share (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 Price Performance

Drax Group stock opened at GBX 613.50 ($7.73) on Friday. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11. The company has a fifty day simple moving average of GBX 631.09 and a 200-day simple moving average of GBX 640.95. Drax Group has a 52-week low of GBX 430.80 ($5.43) and a 52-week high of GBX 692 ($8.72). The firm has a market capitalization of £2.25 billion, a price-to-earnings ratio of 3.64, a PEG ratio of 0.10 and a beta of 1.22.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Citigroup restated a “sell” rating and issued a GBX 529 ($6.67) price target on shares of Drax Group in a research report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their target price on Drax Group from GBX 850 ($10.71) to GBX 900 ($11.34) and gave the company an “overweight” rating in a research note on Tuesday, February 11th.

Drax Group Company Profile

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.