Boralex (TSE:BLX) Price Target Cut to C$42.00 by Analysts at Desjardins

Boralex (TSE:BLX) had its target price reduced by Desjardins from C$44.00 to C$42.00 in a research report report published on Tuesday, BayStreet.CA reports. They currently have a top pick rating on the stock.

Several other equities research analysts have also recently issued reports on BLX. CIBC decreased their target price on shares of Boralex from C$40.00 to C$38.00 and set an outperform rating on the stock in a research report on Friday, April 19th. Raymond James decreased their price target on shares of Boralex from C$40.00 to C$38.00 and set an outperform rating on the stock in a report on Thursday, April 25th. Finally, BMO Capital Markets upped their price objective on Boralex to C$37.00 and gave the stock an outperform rating in a report on Monday, March 4th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of C$40.00.

Boralex Trading Up 0.8 %

Shares of Boralex stock opened at C$27.63 on Tuesday. The firm has a market cap of C$2.84 billion, a PE ratio of 36.36, a P/E/G ratio of 0.94 and a beta of 0.41. The company has a quick ratio of 1.54, a current ratio of 1.08 and a debt-to-equity ratio of 179.25. Boralex has a fifty-two week low of C$25.40 and a fifty-two week high of C$39.99. The business’s fifty day moving average is C$28.29 and its two-hundred day moving average is C$29.94.

Boralex (TSE:BLX) last released its earnings results on Friday, March 1st. The company reported C$0.36 earnings per share for the quarter, missing the consensus estimate of C$0.51 by C($0.15). Boralex had a return on equity of 5.68% and a net margin of 7.63%. The business had revenue of C$315.00 million for the quarter, compared to analysts’ expectations of C$262.30 million. Analysts anticipate that Boralex will post 1.0599765 earnings per share for the current year.

Boralex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Wednesday, February 28th. Boralex’s payout ratio is 86.84%.

Boralex Company Profile

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.