CIBC Cuts Boralex (TSE:BLX) Price Target to C$36.00

Boralex (TSE:BLX) had its price target cut by CIBC from C$37.00 to C$36.00 in a research report released on Wednesday morning,BayStreet.CA reports.

Other equities analysts have also issued reports about the company. Scotiabank reduced their price target on Boralex from C$35.00 to C$31.00 in a research report on Tuesday, December 16th. Royal Bank Of Canada reduced their target price on shares of Boralex from C$38.00 to C$36.00 in a research report on Monday, November 10th. Finally, Desjardins lowered their price target 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. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$38.44.

Boralex Price Performance

Shares of Boralex stock opened at C$25.82 on Wednesday. The business’s fifty day moving average price is C$25.37 and its 200 day moving average price is C$27.76. Boralex has a twelve month low of C$23.48 and a twelve month high of C$33.30. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. The stock has a market capitalization of C$2.65 billion, a P/E ratio of -117.36, a PEG ratio of 2.01 and a beta of 0.44.

Boralex (TSE:BLX) last released 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%. As a group, research analysts anticipate that Boralex will post 1.3383764 earnings per share for the current year.

Boralex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, November 28th. Boralex’s dividend payout ratio (DPR) is presently -300.00%.

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. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.