Boralex (TSE:BLX) Price Target Cut to C$38.00 by Analysts at Raymond James

Boralex (TSE:BLX) had its target price lowered by Raymond James from C$40.00 to C$38.00 in a report published on Thursday, BayStreet.CA reports. The firm currently has an outperform rating on the stock. Raymond James also issued estimates for Boralex’s Q2 2024 earnings at $0.06 EPS, Q4 2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.11) EPS and Q4 2025 earnings at $0.54 EPS.

A number of other equities analysts also recently commented on the company. CIBC decreased their price target on Boralex from C$40.00 to C$38.00 and set an outperform rating for the company in a research note on Friday, April 19th. Desjardins lifted their price target on Boralex from C$43.00 to C$44.00 and gave the stock a top pick rating in a research note on Monday, January 29th. Finally, BMO Capital Markets lifted their price target on Boralex to C$37.00 and gave the stock an outperform rating in a research note on Monday, March 4th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Buy and an average price target of C$40.25.

Boralex Stock Up 0.6 %

Shares of Boralex stock opened at C$27.31 on Thursday. The business has a 50-day moving average of C$28.35 and a 200-day moving average of C$29.95. The company has a debt-to-equity ratio of 179.25, a current ratio of 1.08 and a quick ratio of 1.54. The company has a market capitalization of C$2.81 billion, a PE ratio of 35.93, a P/E/G ratio of 0.94 and a beta of 0.41. Boralex has a 1-year low of C$25.40 and a 1-year high of C$40.03.

Boralex (TSE:BLX) last announced its earnings results on Friday, March 1st. The company reported C$0.36 earnings per share for the quarter, missing the consensus estimate of C$0.51 by C($0.15). The business had revenue of C$315.00 million for the quarter, compared to analyst estimates of C$262.30 million. Boralex had a net margin of 7.63% and a return on equity of 5.68%. As a group, equities analysts forecast that Boralex will post 1.0599765 EPS for the current fiscal year.

Boralex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.165 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.42%. Boralex’s dividend payout ratio (DPR) is presently 86.84%.

About Boralex

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.