Boralex (TSE:BLX) PT Lowered to C$42.00 at Desjardins

Boralex (TSE:BLX) had its target price lowered by analysts at Desjardins from C$44.00 to C$42.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage currently has a “top pick” rating on the stock. Desjardins’ target price indicates a potential upside of 52.39% from the company’s current price.

BLX has been the topic of a number of other research reports. CIBC dropped their target price on Boralex from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. BMO Capital Markets lifted their price target on shares of Boralex to C$37.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Finally, Raymond James decreased their price objective on Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$40.00.

Boralex Trading Up 0.5 %

Shares of Boralex stock traded up C$0.14 during trading hours on Tuesday, hitting C$27.56. The company’s stock had a trading volume of 51,778 shares, compared to its average volume of 236,777. The company has a market capitalization of C$2.83 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. 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 stock has a 50 day moving average of C$28.29 and a 200 day moving average of C$29.94. Boralex has a 12 month low of C$25.40 and a 12 month high of C$39.99.

Boralex (TSE:BLX) last issued its quarterly earnings data on Friday, March 1st. The company reported C$0.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of C$262.30 million. Analysts predict 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.