Q1 2024 EPS Estimates for Boralex Inc. (TSE:BLX) Decreased by Raymond James

Boralex Inc. (TSE:BLX) – Stock analysts at Raymond James lowered their Q1 2024 EPS estimates for shares of Boralex in a report issued on Thursday, April 25th. Raymond James analyst D. Quezada now forecasts that the company will earn $0.42 per share for the quarter, down from their previous estimate of $0.57. 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 Q3 2024 earnings at ($0.10) EPS, FY2024 earnings at $0.88 EPS and FY2025 earnings at $0.90 EPS.

Several other research firms have also recently weighed in on BLX. BMO Capital Markets lifted their target price on Boralex to C$37.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Desjardins raised their price target on shares of Boralex from C$43.00 to C$44.00 and gave the stock a “top pick” rating in a report on Monday, January 29th. Finally, CIBC dropped their price objective on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$40.25.

Boralex Stock Up 0.4 %

TSE:BLX opened at C$27.42 on Monday. The business’s fifty day moving average price is C$28.29 and its 200 day moving average price is C$29.94. The firm has a market capitalization of C$2.82 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 0.94 and a beta of 0.41. The company has a current ratio of 1.08, a quick ratio of 1.54 and a debt-to-equity ratio of 179.25. Boralex has a 1-year low of C$25.40 and a 1-year high of C$39.99.

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 analysts’ consensus estimates of C$0.51 by C($0.15). Boralex had a net margin of 7.63% and a return on equity of 5.68%. The business had revenue of C$315.00 million during the quarter, compared to analysts’ expectations of C$262.30 million.

Boralex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.165 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 2.41%. Boralex’s dividend payout ratio is currently 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.