Drax Group Plc’s “Outperform” Rating Reaffirmed at RBC Capital (DRX)
Drax Group Plc (LON:DRX)‘s stock had its “outperform” rating reiterated by stock analysts at RBC Capital in a report issued on Tuesday. They currently have a GBX 750 ($12.41) price objective on the stock. RBC Capital’s target price would suggest a potential upside of 17.92% from the company’s current price.
Drax Group Plc (LON:DRX) opened at 634.50 on Tuesday. Drax Group Plc has a 1-year low of GBX 583.50 and a 1-year high of GBX 829.50. The stock has a 50-day moving average of GBX 674.5 and a 200-day moving average of GBX 701.4. The company’s market cap is £2.563 billion.
The company also recently declared a dividend, which is scheduled for Friday, October 10th. Investors of record on Wednesday, September 24th will be given a dividend of GBX 4.70 ($0.08) per share. This represents a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, September 24th.
A number of other analysts have also recently weighed in on DRX. Analysts at Sanford C. Bernstein downgraded shares of Drax Group Plc to an “underperform” rating in a research note on Thursday, August 14th. They now have a GBX 550 ($9.10) price target on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Drax Group Plc from GBX 805 ($13.32) to GBX 750 ($12.41) in a research note on Friday, August 8th. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of GBX 791.06 ($13.09).
Drax Group plc is the holding company of the Drax group of companies. The Company is engaged in the generation and sale of electricity and by-products of the electricity generation process at Drax Power Station, Selby, North Yorkshire and the sale of electricity to business customers by Haven Power Limited (LON:DRX).
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