Boralex (TSE:BLX) Price Target Cut to C$39.00 by Analysts at Scotiabank

Boralex (TSE:BLX) had its price objective lowered by Scotiabank from C$41.00 to C$39.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 50.23% from the stock’s current price.

A number of other research analysts have also issued reports on BLX. Royal Bank Of Canada reduced their target price on shares of Boralex from C$38.00 to C$36.00 in a report on Monday, November 10th. Desjardins lowered their price target on Boralex from C$45.00 to C$43.00 and set a “top pick” rating for the company in a report on Tuesday, October 28th. Finally, CIBC decreased their target price on Boralex from C$37.00 to C$36.00 in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$38.44.

Boralex Price Performance

Shares of TSE BLX traded down C$0.85 on Wednesday, hitting C$25.96. The company’s stock had a trading volume of 591,924 shares, compared to its average volume of 436,694. The stock has a 50 day moving average of C$25.46 and a 200-day moving average of C$27.83. The company has a market capitalization of C$2.67 billion, a price-to-earnings ratio of -118.00, a price-to-earnings-growth ratio of 2.01 and a beta of 0.44. Boralex has a 12-month low of C$23.48 and a 12-month high of C$33.30. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54.

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

About Boralex

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.