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Drax Group plc ( (GB:DRX) ) has shared an update.
Drax Group plc has announced the purchase of 69,576 of its ordinary shares as part of its ongoing share buyback programme initiated in August 2024. This transaction, executed through J.P. Morgan Securities plc on the London Stock Exchange, reflects the company’s strategic financial management and commitment to enhancing shareholder value. The buyback programme has seen a total of 42,550,869 shares purchased for treasury since its announcement, indicating a significant effort by Drax to manage its capital structure and potentially increase earnings per share.
The most recent analyst rating on (GB:DRX) stock is a Buy with a £7.50 price target. To see the full list of analyst forecasts on Drax Group plc stock, see the GB:DRX Stock Forecast page.
Spark’s Take on GB:DRX Stock
According to Spark, TipRanks’ AI Analyst, GB:DRX is a Outperform.
Drax Group plc’s overall score reflects its solid financial performance and attractive valuation, supported by strong technical indicators. The company’s strategic initiatives, including share buybacks and leadership changes, contribute positively. However, regulatory uncertainties and project delays present potential risks.
To see Spark’s full report on GB:DRX stock, click here.
More about Drax Group plc
Drax Group plc is a company operating in the energy sector, primarily focusing on renewable energy solutions and power generation. It is known for its efforts in transitioning from coal-based energy production to sustainable biomass and other renewable energy sources.
Average Trading Volume: 1,482,574
Technical Sentiment Signal: Buy
Current Market Cap: £2.4B
For an in-depth examination of DRX stock, go to TipRanks’ Overview page.