Brokerages Set Boralex Inc. (TSE:BLX) Price Target at C$40.13

Boralex Inc. (TSE:BLXGet Free Report) has received an average rating of “Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$40.13.

A number of research analysts recently commented on BLX shares. Raymond James lowered their price target on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. BMO Capital Markets increased their target price on shares of Boralex to C$37.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Desjardins dropped their target price on Boralex from C$44.00 to C$42.00 and set a “top pick” rating for the company in a research report on Tuesday, April 30th. National Bankshares raised their price target on Boralex from C$39.00 to C$41.00 in a research note on Thursday, May 16th. Finally, CIBC lifted their target price on Boralex from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th.

Read Our Latest Analysis on BLX

Boralex Stock Down 0.2 %

BLX stock opened at C$32.05 on Friday. The stock has a market capitalization of C$3.29 billion, a P/E ratio of 32.70, a P/E/G ratio of 0.94 and a beta of 0.41. The business has a fifty day moving average price of C$28.56 and a 200-day moving average price of C$30.33. Boralex has a 1-year low of C$25.40 and a 1-year high of C$39.50. The company has a debt-to-equity ratio of 172.42, a current ratio of 1.16 and a quick ratio of 1.54.

Boralex (TSE:BLXGet Free Report) last announced 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 during the quarter, compared to analysts’ expectations of C$262.30 million. Boralex had a return on equity of 6.87% and a net margin of 10.14%. Equities analysts forecast that Boralex will post 1.060066 earnings per share for the current fiscal year.

Boralex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a dividend of $0.165 per share. The ex-dividend date is Friday, May 31st. This represents a $0.66 dividend on an annualized basis and a yield of 2.06%. Boralex’s payout ratio is presently 67.35%.

Boralex Company Profile

(Get Free Report

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.

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Analyst Recommendations for Boralex (TSE:BLX)

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