Boralex (TSE:BLX) Sets New 12-Month High – What’s Next?

Boralex Inc. (TSE:BLX)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$36.99 and last traded at C$36.99, with a volume of 248592 shares traded. The stock had previously closed at C$36.89.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BLX shares. TD Securities downgraded shares of Boralex from a “buy” rating to a “sell” rating and raised their price objective for the stock from C$32.00 to C$37.25 in a research report on Thursday, March 26th. Royal Bank Of Canada raised their price objective 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, May 12th. Raymond James Financial downgraded shares of Boralex from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from C$38.00 to C$37.25 in a research report on Friday, May 15th. Finally, National Bank Financial set a C$39.00 target price on shares of Boralex and gave the company an “outperform” rating in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$38.39.

Boralex Trading Down 0.3%

The firm has a market cap of C$3.79 billion, a PE ratio of -118.94, a P/E/G ratio of 2.01 and a beta of 0.26. The company’s fifty day moving average price is C$36.08 and its two-hundred day moving average price is C$29.61. The company has a quick ratio of 1.54, a current ratio of 1.24 and a debt-to-equity ratio of 309.98.

Boralex (TSE:BLX) last issued its earnings results on Thursday, May 14th. The company reported C($0.08) earnings per share for the quarter. The firm had revenue of C$286.00 million during the quarter. Boralex had a negative net margin of 3.56% and a negative return on equity of 2.08%. As a group, sell-side analysts forecast that Boralex Inc. will post 1.3383764 earnings per share for the current fiscal year.

Boralex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 15th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.66 annualized dividend and a dividend yield of 1.8%. Boralex’s payout ratio is presently -212.90%.

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.