Boralex Inc. (TSE:BLX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Boralex Inc. (TSE:BLX) have earned an average rating of “Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$40.50.

A number of research analysts have weighed in on the company. BMO Capital Markets increased their target price on Boralex to C$37.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Desjardins increased their price target on Boralex from C$43.00 to C$44.00 and gave the stock a “top pick” rating in a research note on Monday, January 29th. Finally, CIBC reduced their price objective on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th.

Boralex Stock Performance

Shares of Boralex stock opened at C$27.57 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.54 and a debt-to-equity ratio of 179.25. The business has a fifty day simple moving average of C$28.53 and a two-hundred day simple moving average of C$29.99. Boralex has a 12 month low of C$25.40 and a 12 month high of C$41.56. The firm has a market capitalization of C$2.83 billion, a P/E ratio of 36.28, a P/E/G ratio of 0.94 and a beta of 0.41.

Boralex (TSE:BLX) last announced its quarterly earnings data on Friday, March 1st. The company reported C$0.36 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.15). The firm had revenue of C$315.00 million during the quarter, compared to analysts’ expectations of C$262.30 million. Boralex had a return on equity of 5.68% and a net margin of 7.63%. On average, equities analysts forecast that Boralex will post 1.0599765 earnings per share for the current fiscal year.

Boralex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.165 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.66 annualized dividend and a yield of 2.39%. Boralex’s payout ratio is presently 86.84%.

About Boralex

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.