Boralex (BLX) Set to Announce Quarterly Earnings on Wednesday

Boralex (TSE:BLX) will announce its earnings results before the market opens on Wednesday, May 15th. Analysts expect the company to announce earnings of C$0.51 per share for the quarter.

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 the consensus estimate of C$0.51 by C($0.15). Boralex had a net margin of 7.63% and a return on equity of 5.68%. The company had revenue of C$315.00 million during the quarter, compared to the consensus estimate of C$262.30 million.

Boralex Price Performance

Boralex stock opened at C$29.60 on Wednesday. The firm has a market cap of C$3.04 billion, a PE ratio of 38.95, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. 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 stock’s fifty day moving average price is C$28.30 and its two-hundred day moving average price is C$30.04. Boralex has a one year low of C$25.40 and a one year high of C$39.99.

Boralex Dividend Announcement

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 $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Wednesday, February 28th. Boralex’s payout ratio is currently 86.84%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BLX. CIBC cut 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. Desjardins reduced their price target on shares of Boralex from C$44.00 to C$42.00 and set a “top pick” rating on the stock in a research report on Tuesday, April 30th. Raymond James lowered 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 Thursday, April 25th. Finally, BMO Capital Markets lifted their price target on Boralex to C$37.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$40.00.

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.