Boralex (TSE:BLX) Price Target Cut to C$39.00 by Analysts at Scotiabank

Boralex (TSE:BLX) had its price target reduced by Scotiabank from C$41.00 to C$39.00 in a report published on Wednesday,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. CIBC cut their price objective on shares of Boralex from C$37.00 to C$36.00 in a report on Wednesday. Desjardins dropped their price target on Boralex from C$45.00 to C$43.00 and set a “top pick” rating on the stock in a research report on Tuesday, October 28th. Finally, Royal Bank Of Canada reduced their price objective on Boralex from C$38.00 to C$36.00 in a research report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, Boralex has a consensus rating of “Buy” and an average target price of C$38.44.

Boralex Price Performance

BLX opened at C$25.84 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. The company has a market cap of C$2.66 billion, a price-to-earnings ratio of -117.45, a price-to-earnings-growth ratio of 2.01 and a beta of 0.44. The stock has a fifty day simple moving average of C$25.41 and a two-hundred day simple moving average of C$27.82. Boralex has a 12-month low of C$23.48 and a 12-month high of C$33.30.

Boralex (TSE:BLX) last released its earnings results on Friday, November 7th. The company reported C($0.26) earnings per share for the quarter. The business had revenue of C$157.00 million during the quarter. Boralex had a return on equity of 4.29% and a net margin of 7.55%. Research analysts predict that Boralex will post 1.3383764 earnings per share for the current fiscal year.

Boralex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, November 28th. Boralex’s dividend payout ratio (DPR) is currently -300.00%.

About Boralex

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.