Q1 2024 Earnings Estimate for Boralex Inc. (TSE:BLX) Issued By Cormark

Boralex Inc. (TSE:BLX) – Analysts at Cormark issued their Q1 2024 earnings per share (EPS) estimates for shares of Boralex in a research note issued to investors on Wednesday, May 1st. Cormark analyst N. Boychuk anticipates that the company will post earnings of $0.66 per share for the quarter. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share.

Boralex (TSE:BLX) last announced its quarterly earnings results on Friday, March 1st. The company reported C$0.36 earnings per share (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 business had revenue of C$315.00 million for the quarter, compared to analyst estimates of C$262.30 million.

Other research analysts have also issued research reports about the company. Raymond James reduced their price target on Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. BMO Capital Markets upped their price objective on Boralex to C$37.00 and gave the company an “outperform” rating in a report on Monday, March 4th. CIBC decreased their target price on 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. Finally, Desjardins decreased their target price on Boralex from C$44.00 to C$42.00 and set a “top pick” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$40.00.

Boralex Trading Up 0.7 %

Shares of BLX stock opened at C$29.89 on Friday. The company has a debt-to-equity ratio of 179.25, a quick ratio of 1.54 and a current ratio of 1.08. Boralex has a 1 year low of C$25.40 and a 1 year high of C$39.99. The stock has a fifty day moving average of C$28.25 and a two-hundred day moving average of C$29.93. The firm has a market capitalization of C$3.07 billion, a PE ratio of 39.07, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41.

Boralex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Wednesday, February 28th. Boralex’s dividend payout ratio 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.