Cormark Weighs in on Boralex Inc.’s FY2024 Earnings (TSE:BLX)

Boralex Inc. (TSE:BLX) – Investment analysts at Cormark dropped their FY2024 earnings estimates for shares of Boralex in a report released on Wednesday, May 1st. Cormark analyst N. Boychuk now expects that the company will post earnings of $1.27 per share for the year, down from their previous forecast of $1.30. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share.

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

A number of other equities analysts have also recently issued reports on BLX. Desjardins lowered their price objective on shares of Boralex from C$44.00 to C$42.00 and set a “top pick” rating for the company in a research report on Tuesday. BMO Capital Markets upped their price target on shares of Boralex to C$37.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. CIBC dropped their price target 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, Raymond James dropped their price target on Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$40.00.

Boralex Trading Up 0.7 %

Shares of BLX opened at C$29.89 on Thursday. The company has a debt-to-equity ratio of 179.25, a quick ratio of 1.54 and a current ratio of 1.08. Boralex has a 52-week low of C$25.40 and a 52-week high of C$39.99. The firm has a market cap of C$3.07 billion, a price-to-earnings ratio of 39.07, a PEG ratio of 0.94 and a beta of 0.41. The business’s fifty day moving average is C$28.25 and its 200-day moving average is C$29.93.

Boralex Announces Dividend

The business 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 of this dividend was Wednesday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 2.21%. Boralex’s payout ratio is 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.