Raymond James Weighs in on Boralex Inc.’s Q2 2024 Earnings (TSE:BLX)

Boralex Inc. (TSE:BLX) – Analysts at Raymond James reduced their Q2 2024 earnings per share estimates for shares of Boralex in a report released on Thursday, April 25th. Raymond James analyst D. Quezada now anticipates that the company will earn $0.06 per share for the quarter, down from their previous estimate of $0.11. Raymond James currently has a “Outperform” rating and a $38.00 price target on the stock. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. Raymond James also issued estimates for Boralex’s Q4 2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.11) EPS and Q4 2025 earnings at $0.54 EPS.

Boralex (TSE:BLX) last issued its earnings results on Friday, March 1st. The company reported C$0.36 earnings per share for the quarter, missing analysts’ consensus estimates 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 commented on BLX. BMO Capital Markets upped their target price on Boralex to C$37.00 and gave the company an “outperform” rating in a report on Monday, March 4th. CIBC lowered their price objective on Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Finally, Desjardins increased 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. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$40.25.

Boralex Price Performance

Shares of TSE:BLX opened at C$27.31 on Friday. The company has a market cap of C$2.81 billion, a PE ratio of 35.93, a P/E/G ratio of 0.94 and a beta of 0.41. Boralex has a fifty-two week low of C$25.40 and a fifty-two week high of C$40.03. The firm has a 50-day simple moving average of C$28.40 and a 200 day simple moving average of C$29.95. The company has a quick ratio of 1.54, a current ratio of 1.08 and a debt-to-equity ratio of 179.25.

Boralex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.165 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 2.42%. Boralex’s dividend payout ratio (DPR) 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.