Boralex (TSE:BLX) Given New C$38.00 Price Target at CIBC

Boralex (TSE:BLX) had its price target trimmed by CIBC from C$40.00 to C$38.00 in a research report released on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. BMO Capital Markets upped their price objective on shares of Boralex to C$37.00 and gave the stock an outperform rating in a report on Monday, March 4th. Desjardins upped 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. One research 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of C$40.50.

Boralex Stock Performance

TSE:BLX opened at C$26.76 on Friday. The company has a debt-to-equity ratio of 179.25, a current ratio of 1.08 and a quick ratio of 1.54. The firm has a market capitalization of C$2.75 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 0.94 and a beta of 0.41. The company’s 50-day moving average is C$28.67 and its two-hundred day moving average is C$29.99. Boralex has a 1-year low of C$25.40 and a 1-year high of C$41.56.

Boralex (TSE:BLX) last posted its earnings results on Friday, March 1st. The company reported C$0.36 earnings per share for the quarter, missing the consensus estimate of C$0.51 by C($0.15). Boralex had a net margin of 7.63% and a return on equity of 5.68%. The firm had revenue of C$315.00 million during the quarter, compared to analyst estimates of C$262.30 million. Analysts forecast that Boralex will post 1.0599765 EPS for the current year.

Boralex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Wednesday, February 28th. Boralex’s dividend payout ratio is presently 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.