Boralex Inc. (TSE:BLX) Receives Average Rating of “Moderate Buy” from Analysts

Boralex Inc. (TSE:BLX) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$38.39.

Several research firms have issued reports on BLX. Royal Bank Of Canada upped their price objective on shares of Boralex from C$33.00 to C$37.25 and gave the company a “sector perform” rating in a research note on Tuesday, May 12th. Raymond James Financial cut Boralex from an “outperform” rating to a “market perform” rating and cut their target price for the stock from C$38.00 to C$37.25 in a research report on Friday, May 15th.

Boralex Stock Down 0.2%

Shares of TSE:BLX opened at C$37.01 on Friday. The firm has a 50 day simple moving average of C$36.93 and a 200-day simple moving average of C$32.91. Boralex has a twelve month low of C$23.48 and a twelve month high of C$37.18. The company has a current ratio of 1.24, a quick ratio of 1.53 and a debt-to-equity ratio of 309.98. The company has a market capitalization of C$3.80 billion, a PE ratio of -119.39, a P/E/G ratio of 2.01 and a beta of 0.20.

Boralex (TSE:BLX) last posted its earnings results on Thursday, May 14th. The company reported C($0.08) EPS for the quarter. Boralex had a negative net margin of 3.56% and a negative return on equity of 2.08%. The company had revenue of C$286.00 million during the quarter. On average, equities analysts predict that Boralex will post 1.3383764 EPS for the current fiscal year.

Boralex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, May 29th. Boralex’s dividend payout ratio (DPR) is currently -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.