Boralex Inc. (TSE:BLX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Boralex Inc. (TSE:BLX) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is C$38.39.

Several equities analysts have weighed in on the company. TD Securities lowered Boralex from a “buy” rating to a “sell” rating and raised their target price for the company from C$32.00 to C$37.25 in a report on Thursday, March 26th. Raymond James Financial lowered Boralex from an “outperform” rating to a “market perform” rating and cut their target price for the company from C$38.00 to C$37.25 in a report on Friday, May 15th. National Bank Financial set a C$39.00 target price on Boralex and gave the company an “outperform” rating in a report on Tuesday, March 24th. Finally, Royal Bank Of Canada raised their target price 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.

Boralex Price Performance

Shares of TSE:BLX opened at C$36.85 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.54 and a debt-to-equity ratio of 309.98. Boralex has a 1 year low of C$23.48 and a 1 year high of C$37.05. The business has a fifty day simple moving average of C$36.80 and a 200 day simple moving average of C$30.38. The firm has a market cap of C$3.79 billion, a price-to-earnings ratio of -118.87, a P/E/G ratio of 2.01 and a beta of 0.18.

Boralex (TSE:BLX) last announced its quarterly earnings data on Thursday, May 14th. The company reported C($0.08) earnings per share (EPS) for the quarter. Boralex had a negative return on equity of 2.08% and a negative net margin of 3.56%.The firm had revenue of C$286.00 million for the quarter. As a group, sell-side analysts predict that Boralex will post 1.3383764 earnings per share for the current fiscal year.

Boralex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, May 29th. Boralex’s dividend payout ratio (DPR) is -212.90%.

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.