National Bank Financial Equities Analysts Cut Earnings Estimates for Boralex Inc. (TSE:BLX)

Boralex Inc. (TSE:BLX) – National Bank Financial reduced their Q3 2024 earnings per share (EPS) estimates for shares of Boralex in a research note issued on Wednesday, April 17th. National Bank Financial analyst R. Merer now anticipates that the company will post earnings of ($0.19) per share for the quarter, down from their previous estimate of ($0.18). The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. National Bank Financial also issued estimates for Boralex’s FY2024 earnings at $0.76 EPS.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets upped their price target on Boralex to C$37.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Desjardins upped their price objective on Boralex from C$43.00 to C$44.00 and gave the stock a “top pick” rating in a research note on Monday, January 29th. Finally, CIBC dropped their price target on Boralex from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a research note on Friday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$40.50.

Boralex Price Performance

Shares of BLX opened at C$26.99 on Monday. The company has a debt-to-equity ratio of 179.25, a quick ratio of 1.54 and a current ratio of 1.08. The stock has a 50 day simple moving average of C$28.59 and a 200 day simple moving average of C$30.00. Boralex has a 52-week low of C$25.40 and a 52-week high of C$41.56. The firm has a market capitalization of C$2.77 billion, a PE ratio of 35.51, a P/E/G ratio of 0.94 and a beta of 0.41.

Boralex (TSE:BLX) last posted 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 company had revenue of C$315.00 million for the quarter, compared to analyst estimates of C$262.30 million.

Boralex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Wednesday, February 28th. Boralex’s dividend payout ratio is presently 86.84%.

Boralex Company Profile

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.