Cormark Has Pessimistic View of Boralex FY2024 Earnings

Boralex Inc. (TSE:BLX) – Investment analysts at Cormark decreased their FY2024 EPS estimates for shares of Boralex in a report issued on Friday, November 15th. Cormark analyst N. Boychuk now anticipates that the company will earn $1.31 per share for the year, down from their previous forecast of $1.32. The consensus estimate for Boralex’s current full-year earnings is $1.34 per share.

BLX has been the subject of a number of other reports. Raymond James upped their price objective on Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. BMO Capital Markets dropped their price target on Boralex from C$46.00 to C$45.00 in a research note on Friday, November 15th. CIBC decreased their target price on Boralex from C$43.00 to C$42.00 in a report on Friday, November 15th. Finally, Royal Bank of Canada increased their target price on shares of Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Boralex presently has a consensus rating of “Buy” and a consensus target price of C$43.38.

Boralex Stock Performance

Shares of BLX stock opened at C$30.00 on Monday. The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95. The firm has a market capitalization of C$3.08 billion, a price-to-earnings ratio of 32.26, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. Boralex has a one year low of C$26.25 and a one year high of C$36.68. The company has a 50 day moving average price of C$34.10 and a 200 day moving average price of C$33.24.

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.