Boralex (TSE:BLX) Cut to “Market Perform” at Raymond James Financial

Boralex (TSE:BLX) was downgraded by Raymond James Financial from an “outperform” rating to a “market perform” rating in a report released on Friday,BayStreet.CA reports. They presently have a C$37.25 price objective on the stock, down from their previous price objective of C$38.00. Raymond James Financial’s price objective would indicate a potential upside of 1.11% from the stock’s previous close.

Several other research firms also recently commented on BLX. Scotiabank lowered their target price on shares of Boralex from C$41.00 to C$39.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 21st. Royal Bank Of Canada increased their target price on shares of Boralex from C$33.00 to C$37.25 and gave the stock a “sector perform” rating in a research report on Tuesday. TD Securities downgraded shares of Boralex from a “buy” rating to a “sell” rating and increased their target price for the stock from C$32.00 to C$37.25 in a research report on Thursday, March 26th. Canadian Imperial Bank of Commerce lowered their target price on shares of Boralex from C$37.00 to C$36.00 in a research report on Wednesday, January 21st. Finally, National Bank Financial set a C$39.00 target price on shares of Boralex and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$38.47.

Boralex Stock Up 0.1%

Boralex stock traded up C$0.02 during mid-day trading on Friday, hitting C$36.84. 479,217 shares of the company’s stock were exchanged, compared to its average volume of 740,136. The company has a current ratio of 1.29, a quick ratio of 1.54 and a debt-to-equity ratio of 323.15. The stock has a market cap of C$3.79 billion, a P/E ratio of 614.00, a P/E/G ratio of 2.01 and a beta of 0.26. Boralex has a 1-year low of C$23.48 and a 1-year high of C$36.99. The stock has a 50 day moving average of C$34.18 and a two-hundred day moving average of C$28.99.

Boralex (TSE:BLX) last posted its earnings results on Thursday, May 14th. The company reported C($0.08) EPS for the quarter. The business had revenue of C$286.00 million for the quarter. Boralex had a return on equity of 0.45% and a net margin of 0.84%. As a group, analysts anticipate that Boralex will post 1.3383764 EPS for the current fiscal year.

About Boralex

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.