Boralex (TSE:BLX) Hits New 12-Month High – What’s Next?

Boralex Inc. (TSE:BLX)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$37.24 and last traded at C$37.21, with a volume of 30469 shares traded. The stock had previously closed at C$37.23.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BLX. Royal Bank Of Canada lifted their price target on Boralex from C$33.00 to C$37.25 and gave the company a “sector perform” rating in a research report on Tuesday, May 12th. Raymond James Financial cut Boralex from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from C$38.00 to C$37.25 in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Boralex has an average rating of “Moderate Buy” and a consensus target price of C$38.39.

Boralex Stock Down 0.0%

The stock’s fifty day moving average price is C$36.99 and its 200 day moving average price is C$33.94. The company has a current ratio of 1.24, a quick ratio of 1.53 and a debt-to-equity ratio of 309.98. The stock has a market cap of C$3.82 billion, a P/E ratio of -120.06, a price-to-earnings-growth ratio of 2.01 and a beta of 0.22.

Boralex (TSE:BLX) last posted its quarterly earnings data on Thursday, May 14th. The company reported C($0.08) earnings per share (EPS) for the quarter. Boralex had a negative return on equity of 2.08% and a negative net margin of 3.56%.The company had revenue of C$286.00 million for the quarter. As a group, research analysts forecast that Boralex Inc. will post 1.3383764 earnings per share for the current fiscal year.

Boralex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were given a dividend of $0.165 per share. The ex-dividend date was Friday, May 29th. This represents a $0.66 dividend on an annualized basis and a yield of 1.8%. Boralex’s dividend payout ratio (DPR) is presently -212.90%.

Boralex Company Profile

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.