Boralex Inc. (TSE:BLX) Receives C$41.00 Average Price Target from Brokerages

Shares of Boralex Inc. (TSE:BLX) have earned an average rating of “Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$41.00.

A number of equities research analysts have weighed in on BLX shares. CIBC raised their target price on Boralex from C$39.00 to C$41.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. BMO Capital Markets raised their target price on Boralex to C$37.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Scotiabank raised their target price on Boralex from C$38.00 to C$42.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Desjardins raised their target price on Boralex from C$42.00 to C$44.00 and gave the company a “top pick” rating in a report on Thursday, June 6th. Finally, Raymond James dropped their price target on Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th.

Boralex Trading Up 1.8 %

Shares of TSE:BLX opened at C$34.11 on Thursday. The company has a market capitalization of C$3.51 billion, a P/E ratio of 34.81, a P/E/G ratio of 0.94 and a beta of 0.41. Boralex has a 1 year low of C$25.40 and a 1 year high of C$37.01. The company has a debt-to-equity ratio of 172.42, a current ratio of 1.16 and a quick ratio of 1.54. The business’s 50 day simple moving average is C$31.10 and its 200 day simple moving average is C$31.00.

Boralex (TSE:BLX) last issued its earnings results on Wednesday, May 15th. The company reported C$0.53 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.48 by C$0.05. The firm had revenue of C$291.00 million for the quarter, compared to the consensus estimate of C$296.40 million. Boralex had a return on equity of 6.87% and a net margin of 10.14%. On average, research analysts anticipate that Boralex will post 1.0561014 EPS for the current fiscal year.

Boralex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, May 31st. Boralex’s dividend payout ratio is currently 67.35%.

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.