Boralex (TSE:BLX) Reaches New 52-Week High – Time to Buy?

Boralex Inc. (TSE:BLX) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$36.87 and last traded at C$36.73, with a volume of 259727 shares trading hands. The stock had previously closed at C$36.75.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BLX shares. National Bank Financial set a C$39.00 price objective on shares of Boralex and gave the stock an “outperform” rating in a report on Tuesday, March 24th. TD Securities downgraded shares of Boralex from a “buy” rating to a “sell” rating and increased their price target for the stock from C$32.00 to C$37.25 in a research report on Thursday, March 26th. Canadian Imperial Bank of Commerce dropped their price target on shares of Boralex from C$37.00 to C$36.00 in a research note on Wednesday, January 21st. Finally, Scotiabank cut their price objective on shares of Boralex from C$41.00 to C$39.00 and set an “outperform” rating for the company in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$38.46.

Boralex Trading Down 0.0%

The stock has a 50-day moving average price of C$31.28 and a two-hundred day moving average price of C$28.08. The stock has a market capitalization of C$3.78 billion, a PE ratio of 612.33, a PEG ratio of 2.01 and a beta of 0.04. The company has a debt-to-equity ratio of 323.15, a quick ratio of 1.54 and a current ratio of 1.29.

Boralex (TSE:BLX) last released its earnings results on Friday, February 27th. The company reported C$0.13 earnings per share (EPS) for the quarter. Boralex had a net margin of 0.84% and a return on equity of 0.45%. The company had revenue of C$258.00 million during the quarter. As a group, equities analysts forecast that Boralex Inc. will post 1.3383764 earnings per share for the current year.

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.