Boralex (TSE:BLX) Price Target Lowered to C$42.00 at Desjardins

Boralex (TSE:BLX) had its price objective lowered by Desjardins from C$44.00 to C$42.00 in a research report report published on Tuesday morning, BayStreet.CA reports. The brokerage currently has a top pick rating on the stock.

A number of other brokerages have also recently issued reports on BLX. BMO Capital Markets increased their target price on shares of Boralex to C$37.00 and gave the company an outperform rating in a report on Monday, March 4th. CIBC reduced their price objective on Boralex from C$40.00 to C$38.00 and set an outperform rating for the company in a report on Friday, April 19th. Finally, Raymond James decreased 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. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of C$40.00.

Boralex Trading Up 0.7 %

Shares of BLX stock opened at C$29.89 on Tuesday. The business’s fifty day moving average price is C$28.25 and its 200 day moving average price is C$29.93. The firm has a market capitalization of C$3.07 billion, a PE ratio of 39.07, a P/E/G ratio of 0.94 and a beta of 0.41. The company has a debt-to-equity ratio of 179.25, a current ratio of 1.08 and a quick ratio of 1.54. Boralex has a 1-year low of C$25.40 and a 1-year high of C$39.99.

Boralex (TSE:BLX) last posted its quarterly earnings results on Friday, March 1st. The company reported C$0.36 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.15). The company had revenue of C$315.00 million for the quarter, compared to analyst estimates of C$262.30 million. Boralex had a return on equity of 5.68% and a net margin of 7.63%. As a group, sell-side analysts forecast that Boralex will post 1.0599765 EPS for the current fiscal year.

Boralex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.21%. The ex-dividend date was Wednesday, February 28th. Boralex’s payout ratio is 86.84%.

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.