Boralex (TSE:BLX) Given New C$31.00 Price Target at Scotiabank

Boralex (TSE:BLX) had its target price reduced by investment analysts at Scotiabank from C$35.00 to C$31.00 in a report released on Tuesday,BayStreet.CA reports. Scotiabank’s target price would indicate a potential upside of 21.95% from the company’s previous close.

A number of other analysts have also commented on BLX. Desjardins lowered their target price on shares of Boralex from C$45.00 to C$43.00 and set a “top pick” rating for the company in a report on Tuesday, October 28th. CIBC reduced their price target on Boralex from C$39.00 to C$38.00 in a research report on Monday, November 10th. Finally, Royal Bank Of Canada decreased their price objective on Boralex from C$38.00 to C$36.00 in a research note on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of C$37.78.

Boralex Trading Up 1.1%

Shares of BLX stock traded up C$0.27 on Tuesday, reaching C$25.42. 235,003 shares of the stock were exchanged, compared to its average volume of 344,885. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54. Boralex has a one year low of C$23.48 and a one year high of C$33.30. The stock has a market cap of C$2.61 billion, a PE ratio of -115.55, a P/E/G ratio of 2.01 and a beta of 0.31. The stock has a 50 day moving average price of C$26.66 and a 200 day moving average price of C$28.98.

Boralex (TSE:BLX) last announced its quarterly earnings data on Friday, November 7th. The company reported C($0.26) EPS for the quarter. The firm had revenue of C$157.00 million during the quarter. Boralex had a return on equity of 4.29% and a net margin of 7.55%. Equities research analysts forecast that Boralex will post 1.3383764 EPS for the current fiscal year.

Boralex Company Profile

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power.