Boralex Inc. (TSE:BLX) to Post Q3 2024 Earnings of ($0.14) Per Share, Raymond James Forecasts

Boralex Inc. (TSE:BLXFree Report) – Equities researchers at Raymond James reduced their Q3 2024 EPS estimates for shares of Boralex in a research note issued on Wednesday, May 15th. Raymond James analyst D. Quezada now forecasts that the company will earn ($0.14) per share for the quarter, down from their prior forecast of ($0.10). Raymond James 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.

A number of other brokerages have also issued reports on BLX. CIBC increased their target price on shares of Boralex from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. BMO Capital Markets increased their target price on shares of Boralex to C$37.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. National Bankshares raised their price objective on shares of Boralex from C$39.00 to C$41.00 in a research report on Thursday, May 16th. Finally, Desjardins reduced 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, April 30th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Boralex has a consensus rating of “Buy” and a consensus price target of C$40.13.

Check Out Our Latest Analysis on BLX

Boralex Stock Performance

Shares of BLX opened at C$32.12 on Monday. The firm has a 50-day moving average price of C$28.50 and a 200 day moving average price of C$30.31. The firm has a market capitalization of C$3.30 billion, a PE ratio of 32.78, a P/E/G ratio of 0.94 and a beta of 0.41. The company has a quick ratio of 1.54, a current ratio of 1.16 and a debt-to-equity ratio of 172.42. Boralex has a 52-week low of C$25.40 and a 52-week high of C$39.50.

Boralex (TSE:BLXGet Free Report) last announced 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). 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 net margin of 10.14% and a return on equity of 6.87%.

Boralex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Friday, May 31st. Boralex’s payout ratio is 67.35%.

About Boralex

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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.

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Earnings History and Estimates for Boralex (TSE:BLX)

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