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

Boralex (TSE:BLX) had its price objective raised by CIBC from C$41.00 to C$42.00 in a research report report published on Monday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other analysts have also recently commented on the stock. National Bankshares increased their price target on shares of Boralex from C$43.00 to C$46.00 in a research note on Monday, July 8th. Scotiabank increased their price objective on shares of Boralex from C$38.00 to C$42.00 and gave the company an outperform rating in a research report on Wednesday, June 12th. Raymond James dropped their price objective on shares of Boralex from C$40.00 to C$38.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. Finally, Desjardins increased their price objective on shares of Boralex from C$44.00 to C$46.00 and gave the company a top pick rating in a research report on Friday, June 21st. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of C$41.67.

Boralex Stock Performance

Shares of BLX stock opened at C$32.87 on Monday. The stock has a market cap of C$3.38 billion, a P/E ratio of 33.54, a P/E/G ratio of 0.94 and a beta of 0.41. 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 company has a fifty day moving average price of C$33.83 and a two-hundred day moving average price of C$31.16. Boralex has a one year low of C$25.40 and a one year high of C$36.68.

Boralex (TSE:BLX) last announced its quarterly earnings results on Wednesday, May 15th. The company reported C$0.53 EPS for the quarter, beating analysts’ consensus estimates of C$0.48 by C$0.05. The firm had revenue of C$291.00 million during the quarter, compared to analysts’ expectations of C$296.40 million. Boralex had a net margin of 10.14% and a return on equity of 6.87%. As a group, equities analysts predict that Boralex will post 1.0561014 EPS for the current year.

Boralex Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, May 31st. Boralex’s dividend payout ratio is 67.35%.

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.