Boralex Inc. (TSE:BLX) Forecasted to Post Q1 2024 Earnings of $0.37 Per Share

Boralex Inc. (TSE:BLX) – National Bank Financial cut their Q1 2024 earnings per share estimates for shares of Boralex in a report issued on Wednesday, April 17th. National Bank Financial analyst R. Merer now forecasts that the company will post earnings of $0.37 per share for the quarter, down from their previous forecast of $0.46. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. National Bank Financial also issued estimates for Boralex’s Q2 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.51 EPS and FY2025 earnings at $0.73 EPS.

Boralex (TSE:BLX) last released its earnings results on Friday, March 1st. The company reported C$0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.51 by C($0.15). Boralex had a return on equity of 5.68% and a net margin of 7.63%. The business had revenue of C$315.00 million for the quarter, compared to analyst estimates of C$262.30 million.

Several other research firms have also recently issued reports on BLX. BMO Capital Markets boosted their target price on Boralex to C$37.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Desjardins boosted their target price on Boralex from C$43.00 to C$44.00 and gave the stock a “top pick” rating in a research report on Monday, January 29th. Finally, CIBC dropped their target price on Boralex from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a research report on Friday. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$40.50.

Boralex Stock Performance

TSE BLX opened at C$26.76 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.54 and a debt-to-equity ratio of 179.25. The business’s 50 day moving average is C$28.67 and its two-hundred day moving average is C$30.00. Boralex has a 12-month low of C$25.40 and a 12-month high of C$41.56. The stock has a market capitalization of C$2.75 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 0.94 and a beta of 0.41.

Boralex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Wednesday, February 28th. Boralex’s dividend payout ratio (DPR) is 86.84%.

About Boralex

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.