Analysts Set Boralex Inc. (TSE:BLX) Target Price at C$41.67

Shares of Boralex Inc. (TSE:BLX) have been given a consensus rating of “Buy” by the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$41.67.

A number of equities research analysts recently weighed in on BLX shares. CIBC upped their price objective on Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Scotiabank increased their price objective on shares of Boralex from C$38.00 to C$42.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Desjardins raised their price target on shares of Boralex from C$44.00 to C$46.00 and gave the stock a “top pick” rating in a report on Friday, June 21st. Cibc World Mkts raised shares of Boralex to a “strong-buy” rating in a report on Monday, July 22nd. Finally, Raymond James dropped their target price on Boralex from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th.

Boralex Trading Up 1.3 %

TSE BLX opened at C$34.38 on Friday. The company’s 50-day simple moving average is C$34.04 and its two-hundred day simple moving average is C$31.21. Boralex has a one year low of C$25.40 and a one year high of C$36.68. The company has a market capitalization of C$3.53 billion, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. The company has a debt-to-equity ratio of 172.42, a quick ratio of 1.54 and a current ratio of 1.16.

Boralex (TSE:BLX) last issued its quarterly earnings data on Wednesday, May 15th. The company reported C$0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.48 by C$0.05. The company had revenue of C$291.00 million for the quarter, compared to analyst estimates of C$296.40 million. Boralex had a net margin of 10.14% and a return on equity of 6.87%. Equities analysts forecast that Boralex will post 1.0561014 EPS for the current fiscal year.

Boralex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.92%. The ex-dividend date was Friday, May 31st. Boralex’s payout ratio is presently 67.35%.

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.