Trade Report: The Royal Bank Of Canada Reaffirms Underperform Rating for Drax Group Plc (DRX)

The Royal Bank Of Canada Reaffirms Underperform Rating for Drax Group Plc (DRX)

Drax Group Plc (LON:DRX)‘s stock had its “underperform” rating restated by equities research analysts at Royal Bank Of Canada in a research note issued on Tuesday. They presently have a GBX 280 ($3.65) price target on the stock. Royal Bank Of Canada’s target price would suggest a potential downside of 6.82% from the company’s previous close.

DRX has been the topic of a number of other reports. Barclays PLC restated an “overweight” rating on shares of Drax Group Plc in a report on Friday, August 19th. Deutsche Bank AG reiterated a “hold” rating and set a GBX 250 ($3.26) price target on shares of Drax Group Plc in a report on Wednesday, July 20th. Jefferies Group downgraded Drax Group Plc to an “underperform” rating and lifted their price target for the company from GBX 210 ($2.74) to GBX 240 ($3.13) in a report on Thursday, September 22nd. Macquarie lifted their price target on Drax Group Plc from GBX 200 ($2.61) to GBX 313 ($4.09) and gave the company a “neutral” rating in a report on Monday, June 13th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and set a GBX 415 ($5.42) price target on shares of Drax Group Plc in a report on Thursday, September 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of GBX 288.81 ($3.77).

Drax Group Plc (LON:DRX) traded down 1.96% during midday trading on Tuesday, hitting GBX 300.50. The stock had a trading volume of 1,123,103 shares. The stock’s market cap is GBX 1.22 billion. The company’s 50-day moving average price is GBX 308.64 and its 200 day moving average price is GBX 311.17. Drax Group Plc has a 12-month low of GBX 205.10 and a 12-month high of GBX 363.90.

10/09/royal-bank-of-canada-reaffirms-underperform-rating-for-drax-group-plc-drx.html

The business also recently declared a dividend, which was paid on Friday, October 7th. Shareholders of record on Thursday, September 22nd were given a GBX 2.10 ($0.03) dividend. The ex-dividend date of this dividend was Thursday, September 22nd. This represents a dividend yield of 0.61%. This is a boost from Drax Group Plc’s previous dividend of $0.60.

Related posts

Leave a Comment