Boralex (TSE:BLX) Given New C$37.00 Price Target at CIBC

Boralex (TSE:BLX) had its target price dropped by investment analysts at CIBC from C$38.00 to C$37.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 50.16% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Desjardins reduced their price target on Boralex from C$45.00 to C$43.00 and set a “top pick” rating for the company in a research report on Tuesday, October 28th. Scotiabank reduced their target price on Boralex from C$35.00 to C$31.00 in a report on Tuesday. Finally, Royal Bank Of Canada lowered their price target on Boralex from C$38.00 to C$36.00 in a report on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$37.67.

Boralex Stock Down 2.6%

BLX traded down C$0.65 during trading on Wednesday, reaching C$24.64. 414,119 shares of the stock traded hands, compared to its average volume of 346,103. The stock has a market cap of C$2.53 billion, a price-to-earnings ratio of -112.00, a price-to-earnings-growth ratio of 2.01 and a beta of 0.31. 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 fifty-two week low of C$23.48 and a fifty-two week high of C$33.30. The stock’s 50-day simple moving average is C$26.60 and its two-hundred day simple moving average is C$28.94.

Boralex (TSE:BLX) last issued its quarterly earnings data on Friday, November 7th. The company reported C($0.26) earnings per share for the quarter. Boralex had a net margin of 7.55% and a return on equity of 4.29%. The business had revenue of C$157.00 million for the quarter. As a group, equities research analysts expect that Boralex will post 1.3383764 EPS for the current 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.