Boralex Inc. (TSE:BLX) Given Average Rating of “Buy” by Brokerages

Shares of Boralex Inc. (TSE:BLXGet Free Report) have been given an average recommendation of “Buy” by the eight analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$40.13.

BLX has been the subject of a number of research analyst reports. Desjardins lowered their price objective on shares of Boralex from C$44.00 to C$42.00 and set a “top pick” rating for the company in a research report on Tuesday, April 30th. CIBC increased their price objective on shares of Boralex from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. BMO Capital Markets increased their price objective on shares of Boralex to C$37.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Raymond James lowered their price objective on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, National Bankshares increased their price objective on shares of Boralex from C$39.00 to C$41.00 in a research report on Thursday, May 16th.

View Our Latest Stock Analysis on Boralex

Boralex Stock Performance

Boralex stock opened at C$32.28 on Friday. The firm has a 50 day simple moving average of C$28.71 and a 200-day simple moving average of C$30.36. Boralex has a 1-year low of C$25.40 and a 1-year high of C$39.50. The company has a debt-to-equity ratio of 172.42, a current ratio of 1.16 and a quick ratio of 1.54. The stock has a market cap of C$3.32 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41.

Boralex (TSE:BLXGet Free Report) last posted its quarterly 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). Boralex had a net margin of 10.14% and a return on equity of 6.87%. The firm had revenue of C$315.00 million during the quarter, compared to analysts’ expectations of C$262.30 million. On average, analysts expect that Boralex will post 1.060066 EPS for the current year.

Boralex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a $0.165 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.04%. Boralex’s payout ratio is 67.35%.

Boralex Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Boralex (TSE:BLX)

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