Q1 2024 EPS Estimates for Boralex Inc. Reduced by Analyst (TSE:BLX)

Boralex Inc. (TSE:BLX) – Equities researchers at Raymond James decreased their Q1 2024 earnings per share (EPS) estimates for Boralex in a note issued to investors on Thursday, April 25th. Raymond James analyst D. Quezada now forecasts that the company will earn $0.42 per share for the quarter, down from their prior estimate of $0.57. Raymond James has a “Outperform” rating and a $38.00 price target on the stock. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. Raymond James also issued estimates for Boralex’s Q3 2024 earnings at ($0.10) EPS, FY2024 earnings at $0.88 EPS and FY2025 earnings at $0.90 EPS.

Boralex (TSE:BLX) last released its quarterly earnings results on Friday, March 1st. The company reported C$0.36 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of C$315.00 million for the quarter, compared to analyst estimates of C$262.30 million.

Other research analysts have also recently issued reports about the company. CIBC decreased their price target on Boralex from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. BMO Capital Markets upped their price objective on Boralex to C$37.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Finally, Desjardins cut their price objective on Boralex from C$44.00 to C$42.00 and set a “top pick” rating on the stock in a research report on Tuesday. One research 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. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$40.00.

Boralex Stock Up 0.8 %

TSE:BLX opened at C$27.63 on Monday. The company has a quick ratio of 1.54, a current ratio of 1.08 and a debt-to-equity ratio of 179.25. The stock’s fifty day moving average is C$28.29 and its two-hundred day moving average is C$29.94. Boralex has a 52 week low of C$25.40 and a 52 week high of C$39.99. The stock has a market capitalization of C$2.84 billion, a price-to-earnings ratio of 36.36, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41.

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 issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Wednesday, February 28th. Boralex’s payout ratio is 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.