Boralex (BLX) Set to Announce Earnings on Wednesday

Boralex (TSE:BLX) will be posting its quarterly earnings results before the market opens on Wednesday, May 15th. Analysts expect Boralex to post earnings of C$0.51 per share for the quarter.

Boralex (TSE:BLX) last released its quarterly earnings data 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). 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 analysts’ expectations of C$262.30 million.

Boralex Stock Performance

TSE:BLX opened at C$29.60 on Wednesday. Boralex has a twelve month low of C$25.40 and a twelve month high of C$39.99. The company has a market capitalization of C$3.04 billion, a P/E ratio of 38.95, a price-to-earnings-growth 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. The firm has a 50-day moving average price of C$28.30 and a two-hundred day moving average price of C$30.04.

Boralex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Wednesday, February 28th. Boralex’s payout ratio is 86.84%.

Analyst Ratings Changes

A number of equities analysts have weighed in on BLX shares. BMO Capital Markets raised their price objective on Boralex to C$37.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. CIBC reduced their price target on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. Raymond James dropped their price objective on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, Desjardins reduced their target price on shares of Boralex from C$44.00 to C$42.00 and set a “top pick” rating on the stock in a report on Tuesday, April 30th. One investment 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$40.00.

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.