Drax Group’s (DRX) Sell Rating Reaffirmed at Citigroup

Citigroup reiterated their sell rating on shares of Drax Group (LON:DRXFree Report) in a report issued on Wednesday morning, MarketBeat.com reports. The brokerage currently has a GBX 434 ($5.45) price target on the stock.

DRX has been the subject of several other research reports. Royal Bank of Canada decreased their price target on Drax Group from GBX 1,200 ($15.06) to GBX 1,100 ($13.81) and set an outperform rating for the company in a research note on Wednesday, February 21st. JPMorgan Chase & Co. upped their target price on Drax Group from GBX 740 ($9.29) to GBX 760 ($9.54) and gave the company an overweight rating in a research report on Thursday, December 14th.

View Our Latest Report on DRX

Drax Group Trading Up 0.5 %

Shares of DRX stock opened at GBX 485.80 ($6.10) on Wednesday. The stock has a market cap of £1.88 billion, a price-to-earnings ratio of 347.63, a PEG ratio of 0.10 and a beta of 1.14. The stock has a 50-day moving average of GBX 469.53 and a 200-day moving average of GBX 461.41. The company has a current ratio of 1.12, a quick ratio of 0.32 and a debt-to-equity ratio of 78.72. Drax Group has a 1-year low of GBX 395.20 ($4.96) and a 1-year high of GBX 655.60 ($8.23).

Drax Group Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, May 17th. Stockholders of record on Thursday, April 18th will be issued a GBX 13.90 ($0.17) dividend. This represents a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, April 18th. This is a positive change from Drax Group’s previous dividend of $9.20. Drax Group’s dividend payout ratio (DPR) is currently 1,654.68%.

Drax Group Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Drax Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Drax Group and related companies with MarketBeat.com's FREE daily email newsletter.