Cormark Comments on Boralex Inc.’s Q1 2024 Earnings (TSE:BLX)

Boralex Inc. (TSE:BLX) – Research analysts at Cormark issued their Q1 2024 earnings per share (EPS) estimates for Boralex in a research report issued on Wednesday, May 1st. Cormark analyst N. Boychuk anticipates that the company will earn $0.66 per share for the quarter. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share.

Other equities research analysts also recently issued research reports about the company. CIBC reduced their price target on 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. Raymond James cut their target price on Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. BMO Capital Markets upped their target price on Boralex to C$37.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Finally, Desjardins cut their target price on Boralex from C$44.00 to C$42.00 and set a “top pick” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$40.00.

Boralex Trading Up 0.7 %

Shares of TSE:BLX opened at C$29.89 on Friday. The company has a market capitalization of C$3.07 billion, a P/E ratio of 39.07, a P/E/G ratio of 0.94 and a beta of 0.41. Boralex has a 1 year low of C$25.40 and a 1 year high of C$39.99. The company has a debt-to-equity ratio of 179.25, a current ratio of 1.08 and a quick ratio of 1.54. The business’s 50 day simple moving average is C$28.25 and its 200 day simple moving average is C$29.93.

Boralex (TSE:BLX) last issued 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 return on equity of 5.68% and a net margin of 7.63%.

Boralex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Wednesday, February 28th. Boralex’s payout ratio is 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.