Boralex (TSE:BLX) Hits New 52-Week High – Here’s What Happened

Boralex Inc. (TSE:BLX)’s share price hit a new 52-week high on Wednesday . The stock traded as high as C$36.87 and last traded at C$36.73, with a volume of 259727 shares changing hands. The stock had previously closed at C$36.75.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. TD Securities cut shares of Boralex from a “buy” rating to a “sell” rating and increased their price target for the stock from C$32.00 to C$37.25 in a research report on Thursday, March 26th. Scotiabank dropped their price target on shares of Boralex from C$41.00 to C$39.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 21st. National Bank Financial set a C$39.00 price objective on shares of Boralex and gave the company an “outperform” rating in a research note on Tuesday, March 24th. Finally, Canadian Imperial Bank of Commerce decreased their price target on shares of Boralex from C$37.00 to C$36.00 in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Boralex currently has an average rating of “Moderate Buy” and a consensus price target of C$38.46.

Boralex Stock Down 0.1%

The business’s 50 day simple moving average is C$31.68 and its 200-day simple moving average is C$28.20. The company has a market cap of C$3.78 billion, a price-to-earnings ratio of 612.50, a price-to-earnings-growth ratio of 2.01 and a beta of 0.04. The company has a debt-to-equity ratio of 323.15, a quick ratio of 1.54 and a current ratio of 1.29.

Boralex (TSE:BLX) last issued its earnings results on Friday, February 27th. The company reported C$0.13 earnings per share (EPS) for the quarter. The company had revenue of C$258.00 million during the quarter. Boralex had a net margin of 0.84% and a return on equity of 0.45%. Sell-side analysts expect that Boralex Inc. will post 1.3383764 earnings per share 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.