Brokerages Set Boralex Inc. (TSE:BLX) Target Price at C$37.67

Shares of Boralex Inc. (TSE:BLX) have received an average recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$37.67.

Several brokerages have recently weighed in on BLX. Royal Bank Of Canada lowered their target price on shares of Boralex from C$38.00 to C$36.00 in a report on Monday, November 10th. Scotiabank reduced their target price on Boralex from C$35.00 to C$31.00 in a report on Tuesday, December 16th. Desjardins decreased their target price on shares of Boralex from C$45.00 to C$43.00 and set a “top pick” rating on the stock in a research report on Tuesday, October 28th. Finally, CIBC lowered their price target on shares of Boralex from C$38.00 to C$37.00 in a research note on Wednesday, December 17th.

Boralex Price Performance

Shares of TSE BLX opened at C$25.36 on Friday. The stock’s 50-day simple moving average is C$26.09 and its 200-day simple moving average is C$28.51. Boralex has a fifty-two week low of C$23.48 and a fifty-two week high of C$33.30. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. The firm has a market capitalization of C$2.61 billion, a PE ratio of -115.27, a price-to-earnings-growth ratio of 2.01 and a beta of 0.31.

Boralex (TSE:BLX) last announced its earnings results on Friday, November 7th. The company reported C($0.26) earnings per share (EPS) for the quarter. The firm had revenue of C$157.00 million during the quarter. Boralex had a net margin of 7.55% and a return on equity of 4.29%. As a group, equities research analysts forecast that Boralex will post 1.3383764 EPS for the current fiscal year.

Boralex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, November 28th. Boralex’s dividend payout ratio is presently -300.00%.

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.