Boralex (TSE:BLX) Hits New 12-Month Low at $30.09

Boralex Inc. (TSE:BLX)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as C$30.09 and last traded at C$30.49, with a volume of 52243 shares traded. The stock had previously closed at C$30.80.

A number of equities analysts recently commented on BLX shares. Scotiabank decreased their target price on shares of Boralex from C$52.25 to C$51.00 in a research report on Monday, November 15th. Raymond James set a C$56.00 target price on shares of Boralex and gave the stock an “outperform” rating in a research report on Monday, November 15th. CIBC cut their price target on shares of Boralex from C$48.00 to C$42.00 in a report on Tuesday. Tudor Pickering & Holt set a C$41.00 price target on shares of Boralex and gave the stock a “hold” rating in a report on Wednesday, December 22nd. Finally, Tudor Pickering reissued a “hold” rating and issued a C$41.00 price target on shares of Boralex in a report on Wednesday, December 22nd. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$45.64.

The business’s 50 day moving average price is C$35.05 and its two-hundred day moving average price is C$37.02. The stock has a market cap of C$3.10 billion and a P/E ratio of 119.09. The company has a current ratio of 1.06, a quick ratio of 0.89 and a debt-to-equity ratio of 328.61.

Boralex (TSE:BLX) last announced its earnings results on Friday, November 12th. The company reported C($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of C($0.21) by C$0.01. The company had revenue of C$126.00 million for the quarter, compared to the consensus estimate of C$130.00 million. As a group, analysts expect that Boralex Inc. will post 0.63 earnings per share for the current year.

About Boralex (TSE:BLX)

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, the United Kingdom, and the United States. As of December 31, 2020, the company had interests in 88 wind power stations with an installed capacity of 2,002 megawatts (MW); 16 hydroelectric power stations with a capacity of 181 MW; two thermal power stations with an installed capacity of 47 MW; and 10 solar power stations with an installed capacity of 225 MW.

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