Boralex Inc. (TSE:BLX) Receives C$40.50 Average Price Target from Brokerages

Boralex Inc. (TSE:BLX) has earned a consensus recommendation of “Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$40.25.

BLX has been the topic of a number of analyst reports. 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 note on Monday, January 29th. CIBC reduced 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 note on Friday, April 19th. Raymond James reduced 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 note on Thursday. 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 note on Monday, March 4th.

Boralex Stock Performance

BLX opened at C$27.31 on Wednesday. The firm has a market capitalization of C$2.81 billion, a PE ratio of 35.93, a PEG ratio of 0.94 and a beta of 0.41. Boralex has a twelve month low of C$25.40 and a twelve month high of C$40.03. The firm’s 50-day moving average price is C$28.40 and its 200 day moving average price is C$29.95. 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 earnings per share 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 business had revenue of C$315.00 million for the quarter, compared to analyst estimates of C$262.30 million. As a group, sell-side analysts expect that Boralex will post 1.0599765 EPS for the current fiscal year.

Boralex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, February 28th. Boralex’s dividend payout ratio (DPR) 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.