Brokerages Set Boralex Inc. (TSE:BLX) PT at C$40.50

Shares of Boralex Inc. (TSE:BLX) have been given an average rating of “Buy” by the eight research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$40.25.

Several research firms have recently issued reports on BLX. Raymond James lowered their target price on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a report on Thursday. CIBC lowered their target price on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a report on Friday, April 19th. Desjardins lifted their target price on shares of Boralex from C$43.00 to C$44.00 and gave the company a “top pick” rating in a report on Monday, January 29th. Finally, BMO Capital Markets lifted their target price on shares of Boralex to C$37.00 and gave the company an “outperform” rating in a report on Monday, March 4th.

Boralex Stock Performance

Boralex stock opened at C$27.31 on Wednesday. The stock’s 50 day simple moving average is C$28.40 and its two-hundred day simple moving average is C$29.95. The company has a debt-to-equity ratio of 179.25, a quick ratio of 1.54 and a current ratio of 1.08. The stock has a market cap of C$2.81 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 0.94 and a beta of 0.41. Boralex has a fifty-two week low of C$25.40 and a fifty-two week high of C$40.03.

Boralex (TSE:BLX) last posted its quarterly earnings data 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 net margin of 7.63% and a return on equity of 5.68%. The firm had revenue of C$315.00 million for the quarter, compared to the consensus estimate of C$262.30 million. As a group, analysts expect that Boralex will post 1.0599765 earnings per share for the current fiscal year.

Boralex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.165 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 2.42%. Boralex’s payout ratio is currently 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.