Boralex Inc. (BLX) Expected to Post FY2017 Earnings of $0.22 Per Share

Boralex Inc. (TSE:BLX) – National Bank Financial increased their FY2017 earnings estimates for shares of Boralex in a report released on Wednesday. National Bank Financial analyst R. Merer now anticipates that the company will post earnings of $0.22 per share for the year, up from their previous estimate of $0.18.

A number of other research analysts have also weighed in on BLX. Royal Bank Of Canada lifted their target price on Boralex from C$23.00 to C$24.00 and gave the company an “outperform” rating in a report on Friday, May 5th. TD Securities reiterated a “buy” rating and set a C$24.00 price target on shares of Boralex in a research report on Friday, May 5th. Finally, CIBC lifted their price target on Boralex from C$24.50 to C$25.00 in a research report on Monday, July 24th. Seven research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of C$24.08.

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Boralex (TSE BLX) traded up 0.32% during midday trading on Friday, reaching $21.96. 17,329 shares of the company traded hands. The firm’s market capitalization is $2.20 billion. Boralex has a one year low of $16.06 and a one year high of $23.00. The firm has a 50-day moving average price of $21.65 and a 200-day moving average price of $21.26.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Tuesday, August 29th. This is an increase from Boralex’s previous quarterly dividend of $0.13.

About Boralex

Boralex Inc, together with its subsidiaries, develops, constructs, and operates renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2016, the company had interests in 50 wind power stations with an installed capacity of 798 megawatts (MW); 15 hydroelectric power stations with a capacity of 156 MW; 2 thermal power stations with an installed capacity of 47 MW; and 3 solar power facilities with an installed capacity of 16 MW.

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