Raymond James Lowers Boralex (TSE:BLX) Price Target to C$38.00

Boralex (TSE:BLX) had its price target reduced by analysts at Raymond James from C$40.00 to C$38.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 39.14% from the stock’s current price. Raymond James also issued estimates for Boralex’s Q2 2024 earnings at $0.06 EPS, Q4 2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.11) EPS and Q4 2025 earnings at $0.54 EPS.

Other equities research analysts have also recently issued research reports about the stock. CIBC cut their price objective on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Desjardins lifted their target price on shares of Boralex from C$43.00 to C$44.00 and gave the stock a “top pick” rating in a research report on Monday, January 29th. Finally, BMO Capital Markets lifted their target price on shares of Boralex to C$37.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boralex has an average rating of “Buy” and an average price target of C$40.25.

Boralex Price Performance

Shares of TSE BLX opened at C$27.31 on Thursday. The stock has a fifty day simple moving average of C$28.40 and a two-hundred day simple moving average of C$29.95. Boralex has a 1-year low of C$25.40 and a 1-year high of C$40.03. The firm has a market cap of C$2.81 billion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. The company has a current ratio of 1.08, a quick ratio of 1.54 and a debt-to-equity ratio of 179.25.

Boralex (TSE:BLX) last posted its quarterly earnings results on Friday, March 1st. The company reported C$0.36 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of C$315.00 million during the quarter, compared to the consensus estimate of C$262.30 million. Analysts anticipate that Boralex will post 1.0599765 earnings per share for the current year.

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.