Boralex (TSE:BLX) PT Lowered to C$38.00

Boralex (TSE:BLX) had its price objective reduced by CIBC from C$40.00 to C$38.00 in a research note published on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Boralex to C$37.00 and gave the stock an outperform rating in a research report on Monday, March 4th. Desjardins upped their target price on Boralex from C$43.00 to C$44.00 and gave the stock a top pick rating in a report on Monday, January 29th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of C$40.50.

Boralex Trading Up 0.9 %

BLX opened at C$26.99 on Friday. Boralex has a 12 month low of C$25.40 and a 12 month high of C$41.56. 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 stock has a 50-day moving average of C$28.59 and a 200 day moving average of C$30.00. The firm has a market cap of C$2.77 billion, a P/E ratio of 35.51, a P/E/G ratio of 0.94 and a beta of 0.41.

Boralex (TSE:BLX) last announced its quarterly earnings data on Friday, March 1st. The company reported C$0.36 EPS for the quarter, missing the consensus estimate of C$0.51 by C($0.15). The business had revenue of C$315.00 million during the quarter, compared to the consensus estimate of C$262.30 million. Boralex had a net margin of 7.63% and a return on equity of 5.68%. As a group, research analysts forecast that Boralex will post 1.0599765 EPS for the current year.

Boralex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.66 annualized dividend and a yield of 2.45%. 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.