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

Boralex Inc. (TSE:BLX)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as C$37.18 and last traded at C$37.00, with a volume of 309616 shares. The stock had previously closed at C$37.00.

Analysts Set New Price Targets

BLX has been the topic of a number of analyst reports. Raymond James Financial downgraded Boralex from an “outperform” rating to a “market perform” rating and cut their price target for the company from C$38.00 to C$37.25 in a research note on Friday, May 15th. TD Securities downgraded Boralex from a “buy” rating to a “sell” rating and upped their price objective for the company from C$32.00 to C$37.25 in a report on Thursday, March 26th. National Bank Financial set a C$39.00 target price on Boralex and gave the company an “outperform” rating in a research note on Tuesday, March 24th. Finally, Royal Bank Of Canada raised their target price on Boralex from C$33.00 to C$37.25 and gave the stock a “sector perform” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$38.39.

Boralex Stock Performance

The company has a quick ratio of 1.53, a current ratio of 1.24 and a debt-to-equity ratio of 309.98. The company has a market capitalization of C$3.80 billion, a P/E ratio of -119.35, a price-to-earnings-growth ratio of 2.01 and a beta of 0.18. The business has a fifty day moving average price of C$36.85 and a 200 day moving average price of C$31.56.

Boralex (TSE:BLX) last announced its earnings results on Thursday, May 14th. The company reported C($0.08) EPS for the quarter. Boralex had a negative return on equity of 2.08% and a negative net margin of 3.56%.The business had revenue of C$286.00 million for the quarter. On average, analysts expect that Boralex Inc. will post 1.3383764 earnings per share for the current fiscal year.

Boralex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, May 29th. Boralex’s payout ratio is currently -212.90%.

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.