Boralex (TSE:BLX) Reaches New 12-Month High Following Analyst Upgrade

Shares of Boralex Inc. (TSE:BLX) reached a new 52-week high on Thursday after CIBC raised their price target on the stock from C$26.50 to C$27.00. The stock traded as high as C$26.43 and last traded at C$26.34, with a volume of 54812 shares. The stock had previously closed at C$26.14.

Several other equities research analysts also recently weighed in on the stock. Raymond James reaffirmed an “outperform” rating and issued a C$26.00 price objective on shares of Boralex in a report on Friday, November 8th. TD Securities upped their price objective on shares of Boralex from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, National Bank Financial upped their price objective on shares of Boralex from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a report on Friday, November 29th.

The company has a debt-to-equity ratio of 465.31, a quick ratio of 0.61 and a current ratio of 0.81. The company has a market capitalization of $2.52 billion and a price-to-earnings ratio of -230.88. The stock’s fifty day simple moving average is C$24.83 and its two-hundred day simple moving average is C$22.29.

Boralex (TSE:BLX) last issued its quarterly earnings results on Thursday, November 7th. The company reported C($0.32) earnings per share for the quarter, beating the Zacks’ consensus estimate of C($0.38) by C$0.06. The business had revenue of C$92.00 million during the quarter, compared to analyst estimates of C$99.00 million. On average, equities analysts anticipate that Boralex Inc. will post 0.33 EPS for the current fiscal year.

Boralex Company Profile (TSE:BLX)

Boralex Inc, together with its subsidiaries, develops, constructs, and operates renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2018, the company had interests in 81 wind power stations with an installed capacity of 1,723 megawatts (MW); 15 hydroelectric power stations with a capacity of 156 MW; 2 thermal power stations with an installed capacity of 47 MW; and 3 solar power stations with an installed capacity of 16 MW.

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