CIBC Issues Pessimistic Forecast for Boralex (TSE:BLX) Stock Price

Boralex (TSE:BLX) had its target price lowered by research analysts at CIBC from C$37.00 to C$36.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 38.67% from the company’s previous close.

Several other equities analysts have also recently weighed in on BLX. Royal Bank Of Canada dropped their price objective on Boralex from C$38.00 to C$36.00 in a research note on Monday, November 10th. Scotiabank reduced their price objective on shares of Boralex from C$35.00 to C$31.00 in a research report on Tuesday, December 16th. Finally, Desjardins dropped their target price on shares of Boralex from C$45.00 to C$43.00 and set a “top pick” rating on the stock in a research report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$38.44.

Boralex Stock Down 3.2%

BLX traded down C$0.85 during trading on Wednesday, hitting C$25.96. 591,924 shares of the company’s stock were exchanged, compared to its average volume of 436,694. Boralex has a fifty-two week low of C$23.48 and a fifty-two week high of C$33.30. The stock has a market cap of C$2.67 billion, a P/E ratio of -118.00, a PEG ratio of 2.01 and a beta of 0.44. The business’s 50 day moving average is C$25.46 and its two-hundred day moving average is C$27.83. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60.

Boralex (TSE:BLX) last posted its earnings results on Friday, November 7th. The company reported C($0.26) earnings per share for the quarter. The business had revenue of C$157.00 million during the quarter. Boralex had a return on equity of 4.29% and a net margin of 7.55%. As a group, equities analysts expect that Boralex will post 1.3383764 earnings per share for the current fiscal year.

Boralex Company Profile

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.