Boralex Inc. (TSE:BLX) Expected to Earn Q3 2024 Earnings of ($0.19) Per Share

Boralex Inc. (TSE:BLX) – Equities researchers at National Bank Financial dropped their Q3 2024 earnings per share (EPS) estimates for Boralex in a research report issued to clients and investors on Wednesday, April 17th. National Bank Financial analyst R. Merer now forecasts that the company will post earnings per share of ($0.19) for the quarter, down from their previous forecast of ($0.18). The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. National Bank Financial also issued estimates for Boralex’s FY2024 earnings at $0.76 EPS.

A number of other analysts have also recently issued reports on the company. Desjardins lifted their price objective on Boralex from C$43.00 to C$44.00 and gave the company a “top pick” rating in a research report on Monday, January 29th. CIBC decreased 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 Friday, April 19th. Finally, BMO Capital Markets upped their price target on Boralex to C$37.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boralex currently has a consensus rating of “Buy” and a consensus target price of C$40.50.

Boralex Price Performance

BLX opened at C$27.57 on Monday. The stock has a market cap of C$2.83 billion, a price-to-earnings ratio of 36.28, a PEG 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$41.56. The company has a current ratio of 1.08, a quick ratio of 1.54 and a debt-to-equity ratio of 179.25. The stock has a fifty day moving average price of C$28.53 and a 200 day moving average price of C$29.99.

Boralex (TSE:BLX) last released its quarterly earnings data on Friday, March 1st. The company reported C$0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.15). The firm had revenue of C$315.00 million for the quarter, compared to analyst estimates of C$262.30 million. Boralex had a net margin of 7.63% and a return on equity of 5.68%.

Boralex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.66 annualized dividend and a dividend yield of 2.39%. 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.