Boralex (TSE:BLX) Shares Cross Above 200-Day Moving Average – What’s Next?

Boralex Inc. (TSE:BLX) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$29.86 and traded as high as C$36.94. Boralex shares last traded at C$36.86, with a volume of 701,547 shares changing hands.

Analyst Ratings Changes

BLX has been the topic of a number of recent analyst reports. TD Securities cut Boralex from a “buy” rating to a “sell” rating and upped their price objective for the company from C$32.00 to C$37.25 in a report on Thursday, March 26th. Royal Bank Of Canada upped their price objective on Boralex from C$33.00 to C$37.25 and gave the company a “sector perform” rating in a report on Tuesday, May 12th. National Bank Financial set a C$39.00 price objective on Boralex and gave the company an “outperform” rating in a report on Tuesday, March 24th. Finally, Raymond James Financial cut Boralex from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from C$38.00 to C$37.25 in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$38.39.

Boralex Trading Down 0.0%

The firm has a market capitalization of C$3.79 billion, a PE ratio of -118.84, a PEG ratio of 2.01 and a beta of 0.18. The company has a current ratio of 1.24, a quick ratio of 1.54 and a debt-to-equity ratio of 309.98. The business has a fifty day moving average price of C$36.78 and a two-hundred day moving average price of C$29.98.

Boralex (TSE:BLX) last released its quarterly earnings results on Thursday, May 14th. The company reported C($0.08) earnings per share for the quarter. The business had revenue of C$286.00 million for the quarter. Boralex had a negative return on equity of 2.08% and a negative net margin of 3.56%. Analysts expect that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.

Boralex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.165 per share. The ex-dividend date is Friday, May 29th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.8%. Boralex’s dividend payout ratio is currently -212.90%.

About Boralex

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.