Boralex Inc. (TSE:BLX) Receives C$43.50 Average Price Target from Analysts

Shares of Boralex Inc. (TSE:BLX) have earned an average recommendation of “Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$43.50.

Several equities analysts recently issued reports on BLX shares. CIBC boosted their price target on Boralex from C$41.00 to C$42.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Cibc World Mkts raised Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. Cormark increased their price target on Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. BMO Capital Markets increased their price target on Boralex from C$39.00 to C$46.00 in a research note on Thursday, September 5th. Finally, Royal Bank of Canada upped their price objective on Boralex from C$36.00 to C$38.00 in a report on Thursday, August 15th.

Boralex Price Performance

BLX stock opened at C$32.87 on Friday. Boralex has a 52-week low of C$26.25 and a 52-week high of C$36.68. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24. The business has a fifty day moving average of C$34.17 and a two-hundred day moving average of C$33.07. The stock has a market cap of C$3.38 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

Boralex (TSE:BLX) last released its earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.04 by C$0.06. The firm had revenue of C$180.00 million during the quarter, compared to analyst estimates of C$211.65 million. Boralex had a return on equity of 6.69% and a net margin of 9.91%. As a group, research analysts anticipate that Boralex will post 1.3383764 earnings per share for the current year.

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.