Q2 2024 EPS Estimates for Boralex Inc. Reduced by Analyst (TSE:BLX)

Boralex Inc. (TSE:BLX) – Stock analysts at Raymond James lowered their Q2 2024 earnings estimates for Boralex in a report issued on Thursday, April 25th. Raymond James analyst D. Quezada now anticipates that the company will post earnings per share of $0.06 for the quarter, down from their prior forecast of $0.11. Raymond James currently has a “Outperform” rating and a $38.00 target price on the stock. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. Raymond James also issued estimates for Boralex’s Q4 2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.11) EPS and Q4 2025 earnings at $0.54 EPS.

Boralex (TSE:BLX) last released its quarterly earnings results on Friday, March 1st. The company reported C$0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.15). The company had revenue of C$315.00 million for the quarter, compared to analyst estimates of C$262.30 million. Boralex had a net margin of 7.63% and a return on equity of 5.68%.

A number of other equities analysts also recently issued reports on the stock. Desjardins lifted their price objective on shares of Boralex from C$43.00 to C$44.00 and gave the stock a “top pick” rating in a report on Monday, January 29th. BMO Capital Markets boosted their price target on shares of Boralex to C$37.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Finally, CIBC reduced their price objective on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$40.25.

Boralex Trading Up 0.6 %

Shares of Boralex stock opened at C$27.31 on Friday. The company has a market capitalization of C$2.81 billion, a P/E ratio of 35.93, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. The stock has a fifty day simple moving average of C$28.40 and a 200 day simple moving average of C$29.95. Boralex has a 12-month low of C$25.40 and a 12-month high of C$40.03. The company has a current ratio of 1.08, a quick ratio of 1.54 and a debt-to-equity ratio of 179.25.

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 given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.66 annualized dividend and a yield of 2.42%. Boralex’s payout ratio is currently 86.84%.

Boralex Company Profile

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.