National Bank Financial Reiterates “C$39.00” Price Target for Boralex (TSE:BLX)

Boralex (TSE:BLX) has been assigned a C$39.00 target price by National Bank Financial in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price target indicates a potential upside of 16.14% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Scotiabank decreased their price objective on shares of Boralex from C$41.00 to C$39.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. Canadian Imperial Bank of Commerce cut their target price on shares of Boralex from C$37.00 to C$36.00 in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$38.57.

Boralex Stock Performance

Shares of TSE BLX traded up C$2.88 during midday trading on Tuesday, hitting C$33.58. 1,041,494 shares of the company’s stock were exchanged, compared to its average volume of 534,347. The company has a quick ratio of 1.54, a current ratio of 1.29 and a debt-to-equity ratio of 323.15. The firm has a market capitalization of C$3.45 billion, a PE ratio of 559.67, a price-to-earnings-growth ratio of 2.01 and a beta of 0.73. Boralex has a 12 month low of C$23.48 and a 12 month high of C$33.88. The company’s 50 day moving average price is C$26.94 and its 200 day moving average price is C$26.74.

Boralex (TSE:BLX) last posted its quarterly earnings results on Friday, February 27th. The company reported C$0.13 earnings per share for the quarter. Boralex had a return on equity of 0.45% and a net margin of 0.84%.The business had revenue of C$258.00 million for the quarter. As a group, analysts predict that Boralex will post 1.3383764 earnings per share for the current fiscal 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.