Drax Group (LON:DRX) Issues Quarterly Earnings Results

Drax Group (LON:DRX) announced 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 Price Performance

Shares of DRX traded down GBX 5.04 ($0.06) during midday trading on Thursday, reaching GBX 636.46 ($8.07). The stock had a trading volume of 2,886,959 shares, compared to its average volume of 1,372,691. The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11. The company has a market capitalization of £2.33 billion, a price-to-earnings ratio of 3.78, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. The company’s 50-day moving average is GBX 631.02 and its 200 day moving average is GBX 641.03. Drax Group has a 12-month low of GBX 407.40 ($5.17) and a 12-month high of GBX 692 ($8.78).

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup reissued a “sell” rating and set a GBX 529 ($6.71) price objective on shares of Drax Group in a report on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on shares of Drax Group from GBX 850 ($10.78) to GBX 900 ($11.41) and gave the stock an “overweight” rating in a research note 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.