CIBC Lowers Boralex (TSE:BLX) Price Target to C$42.00

Boralex (TSE:BLX) had its price target reduced by CIBC from C$43.00 to C$42.00 in a research report sent to investors on Friday,BayStreet.CA reports.

Several other brokerages have also recently weighed in on BLX. Cibc World Mkts raised shares of Boralex to a “strong-buy” rating in a report on Monday, July 22nd. Cormark upped their price target on shares of Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th. Raymond James increased their target price on Boralex from C$38.00 to C$41.00 in a research note on Thursday, August 15th. Royal Bank of Canada lifted their price target on shares of Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th. Finally, BMO Capital Markets upped their target price on Boralex from C$39.00 to C$46.00 in a research note on Thursday, September 5th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of C$43.38.

Boralex Trading Down 3.3 %

Shares of TSE:BLX traded down C$1.07 during midday trading on Friday, reaching C$31.80. 329,800 shares of the company’s stock were exchanged, compared to its average volume of 258,610. The firm’s 50 day simple moving average is C$34.16 and its two-hundred day simple moving average is C$33.10. Boralex has a fifty-two week low of C$26.25 and a fifty-two week high of C$36.68. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54. The stock has a market cap of C$3.27 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 2.01 and a beta of 0.46.

Boralex (TSE:BLX) last released its earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, beating the consensus estimate of C$0.04 by C$0.06. The company had revenue of C$180.00 million during the quarter, compared to the consensus estimate of C$211.65 million. Boralex had a return on equity of 6.69% and a net margin of 9.91%. As a group, sell-side analysts forecast that Boralex will post 1.3383764 EPS for the current fiscal 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.