Boralex Inc. (TSE:BLX) Given Consensus Rating of “Moderate Buy” by Brokerages

Boralex Inc. (TSE:BLXGet Rating) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$49.75.

BLX has been the topic of a number of research reports. BMO Capital Markets increased their price objective on Boralex from C$45.00 to C$50.00 in a report on Thursday, August 4th. CIBC increased their price objective on Boralex from C$49.00 to C$50.00 in a report on Friday. Credit Suisse Group raised their target price on Boralex to C$55.00 in a report on Wednesday, August 24th. CSFB raised their target price on Boralex from C$46.00 to C$55.00 in a report on Wednesday, August 24th. Finally, National Bankshares raised their target price on Boralex from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th.

Boralex Stock Up 1.0 %

Shares of BLX stock opened at C$46.93 on Tuesday. The stock’s 50-day simple moving average is C$47.04 and its 200-day simple moving average is C$42.55. The company has a debt-to-equity ratio of 170.23, a quick ratio of 1.81 and a current ratio of 1.92. The firm has a market capitalization of C$4.82 billion and a PE ratio of 82.33. Boralex has a fifty-two week low of C$30.04 and a fifty-two week high of C$51.55.

Boralex (TSE:BLXGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported C$0.10 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.08 by C$0.02. The firm had revenue of C$168.00 million during the quarter, compared to analyst estimates of C$176.80 million. Equities analysts expect that Boralex will post 1.16 earnings per share for the current year.

Boralex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 16th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.41%. The ex-dividend date was Tuesday, August 30th. Boralex’s payout ratio is currently 115.79%.

Insider Buying and Selling at Boralex

In other Boralex news, Director Dany St-Pierre acquired 1,530 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were bought at an average cost of C$46.21 per share, with a total value of C$70,695.96. Following the completion of the acquisition, the director now owns 1,530 shares in the company, valued at C$70,695.96.

Boralex Company Profile

(Get Rating)

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2021, the company had interests in 90 wind power stations with an installed capacity of 2,032 megawatts (MW); 16 hydroelectric power stations with a capacity of 181 MW; 12 solar power stations with an installed capacity of 244 MW; and one thermal power station with an installed capacity of 35 MW.

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Analyst Recommendations for Boralex (TSE:BLX)

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