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An update from Drax Group plc ( (GB:DRX) ) is now available.
Drax Group plc has executed a share buyback program, purchasing 109,899 ordinary shares on the London Stock Exchange through J.P. Morgan Securities plc. This transaction is part of a larger program announced in August 2024, aimed at optimizing the company’s capital structure and returning value to shareholders. Following this purchase, Drax Group now has 432,046,489 ordinary shares in issue, with 86,518,469 held in treasury. The buyback reflects Drax’s strategic focus on enhancing shareholder value and maintaining a robust financial position.
The most recent analyst rating on (GB:DRX) stock is a Buy with a £742.00 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 strong financial performance and attractive valuation, supported by positive earnings call insights. However, technical indicators suggest potential bearish momentum, and challenges in revenue growth and market conditions pose risks.
To see Spark’s full report on GB:DRX stock, click here.
More about Drax Group plc
Drax Group plc operates in the energy sector, focusing on renewable energy solutions and power generation. The company is known for its efforts in transitioning from coal-fired power to sustainable biomass and other renewable energy sources.
Average Trading Volume: 1,282,715
Technical Sentiment Signal: Strong Buy
Current Market Cap: £2.42B
See more data about DRX stock on TipRanks’ Stock Analysis page.