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

Boralex Inc. (TSE:BLX) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$31.47 and traded as high as C$37.02. Boralex shares last traded at C$37.00, with a volume of 341,654 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Raymond James Financial cut shares of 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. National Bank Financial set a C$39.00 target price on shares of Boralex and gave the stock an “outperform” rating in a report on Tuesday, March 24th. Royal Bank Of Canada lifted their target price on shares of Boralex from C$33.00 to C$37.25 and gave the stock a “sector perform” rating in a research report on Tuesday, May 12th. Finally, TD Securities lowered shares of Boralex from a “buy” rating to a “sell” rating and boosted their target price for the company from C$32.00 to C$37.25 in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$38.39.

Boralex Stock Up 0.1%

The company has a current ratio of 1.24, a quick ratio of 1.53 and a debt-to-equity ratio of 309.98. The stock has a market cap of C$3.81 billion, a P/E ratio of -119.45, a PEG ratio of 2.01 and a beta of 0.18. The company’s 50 day moving average price is C$36.85 and its two-hundred day moving average price is C$31.56.

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

Boralex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.8%. Boralex’s payout ratio is presently -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.