Boralex (TSE:BLX) Share Price Crosses Above 200 Day Moving Average of $36.80

Boralex Inc. (TSE:BLX – Get Rating) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$36.80 and traded as high as C$40.97. Boralex shares last traded at C$40.39, with a volume of 129,493 shares trading hands.

A number of research firms recently weighed in on BLX. CIBC lifted their target price on shares of Boralex from C$45.00 to C$46.00 in a research note on Thursday, April 21st. National Bankshares lowered their target price on shares of Boralex from C$48.00 to C$47.00 and set an “outperform” rating on the stock in a research note on Thursday, May 12th. Credit Suisse Group lifted their target price on shares of Boralex from C$45.00 to C$46.00 and gave the company an “outperform” rating in a research note on Wednesday, April 20th. BMO Capital Markets lifted their target price on shares of Boralex from C$44.00 to C$45.00 in a research note on Tuesday, May 3rd. Finally, CSFB lifted their target price on shares of Boralex from C$45.00 to C$46.00 in a research note on Wednesday, April 20th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$45.31.

The firm’s 50-day moving average price is C$39.72 and its 200-day moving average price is C$36.80. The company has a current ratio of 1.10, a quick ratio of 0.97 and a debt-to-equity ratio of 288.00. The stock has a market capitalization of C$4.15 billion and a PE ratio of 133.74.

Boralex (TSE:BLX – Get Rating) last issued its quarterly earnings results on Wednesday, May 11th. The company reported C$0.49 EPS for the quarter, beating the consensus estimate of C$0.36 by C$0.13. The firm had revenue of C$227.00 million for the quarter, compared to the consensus estimate of C$237.20 million. On average, equities research analysts predict that Boralex Inc. will post 0.9 earnings per share for the current fiscal year.

About Boralex (TSE:BLX)

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2021, the company had interests in 90 wind power stations with an installed capacity of 2,032 megawatts (MW); 16 hydroelectric power stations with a capacity of 181 MW; 12 solar power stations with an installed capacity of 244 MW; and one thermal power station with an installed capacity of 35 MW.

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