Q1 2024 EPS Estimates for Boralex Inc. Reduced by Analyst (TSE:BLX)

Boralex Inc. (TSE:BLX) – Investment analysts at Raymond James cut their Q1 2024 earnings estimates for shares of Boralex in a research report issued on Thursday, April 25th. Raymond James analyst D. Quezada now anticipates that the company will post earnings of $0.42 per share for the quarter, down from their prior forecast of $0.57. Raymond James has a “Outperform” rating and a $38.00 price objective on the stock. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. Raymond James also issued estimates for Boralex’s Q3 2024 earnings at ($0.10) EPS, FY2024 earnings at $0.88 EPS and FY2025 earnings at $0.90 EPS.

Boralex (TSE:BLX) last released its earnings results on Friday, March 1st. The company reported C$0.36 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 5.68% and a net margin of 7.63%.

Several other equities research analysts also recently weighed in on the stock. BMO Capital Markets boosted their target price on shares of Boralex to C$37.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. CIBC dropped their target price 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 Friday, April 19th. Finally, Desjardins dropped their target price 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. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$40.00.

Boralex Price Performance

BLX opened at C$27.63 on Monday. The company has a 50-day moving average of C$28.29 and a 200-day moving average of C$29.94. The company has a market capitalization of C$2.84 billion, a P/E ratio of 36.36, a PEG ratio of 0.94 and a beta of 0.41. Boralex has a 1-year low of C$25.40 and a 1-year high of C$39.99. The company has a debt-to-equity ratio of 179.25, a quick ratio of 1.54 and a current ratio of 1.08.

Boralex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Wednesday, February 28th. Boralex’s dividend payout ratio is presently 86.84%.

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.