Cormark Has Pessimistic Outlook of Boralex FY2024 Earnings

Boralex Inc. (TSE:BLX) – Equities researchers at Cormark decreased their FY2024 earnings per share (EPS) estimates for Boralex in a note issued to investors on Monday, October 21st. Cormark analyst N. Boychuk now forecasts that the company will earn $1.32 per share for the year, down from their prior estimate of $1.38. The consensus estimate for Boralex’s current full-year earnings is $1.34 per share. Cormark also issued estimates for Boralex’s FY2025 earnings at $1.53 EPS.

BLX has been the topic of a number of other reports. Cibc World Mkts raised shares of Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. Raymond James upped their price target on Boralex from C$38.00 to C$41.00 in a research note on Thursday, August 15th. National Bankshares lifted their price objective on Boralex from C$43.00 to C$46.00 in a research note on Monday, July 8th. BMO Capital Markets boosted their price objective on Boralex from C$39.00 to C$46.00 in a report on Thursday, September 5th. Finally, CIBC raised their target price on Boralex from C$41.00 to C$42.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Boralex has a consensus rating of “Buy” and a consensus target price of C$43.50.

Boralex Stock Down 2.2 %

Shares of BLX opened at C$35.03 on Thursday. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. The firm has a market cap of C$3.60 billion, a P/E ratio of 37.67, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company’s 50-day moving average price is C$34.27 and its 200 day moving average price is C$32.52. Boralex has a 12-month low of C$25.49 and a 12-month high of C$36.68.

Boralex (TSE:BLX) last announced its quarterly earnings results on Wednesday, August 14th. The company reported C$0.10 EPS for the quarter, beating the consensus estimate of C$0.04 by C$0.06. The business had revenue of C$180.00 million for the quarter, compared to analyst estimates of C$211.65 million. Boralex had a return on equity of 6.69% and a net margin of 9.91%.

Boralex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were issued a $0.165 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.66 dividend on an annualized basis and a yield of 1.88%. Boralex’s dividend payout ratio (DPR) is presently 70.97%.

About Boralex

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.