Boralex Inc. (TSE:BLX) Expected to Earn Q3 2024 Earnings of ($0.19) Per Share

Boralex Inc. (TSE:BLX) – Stock analysts at National Bank Financial cut their Q3 2024 earnings per share estimates for Boralex in a report released on Wednesday, April 17th. National Bank Financial analyst R. Merer now forecasts that the company will post earnings of ($0.19) per share for the quarter, down from their prior estimate of ($0.18). The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. National Bank Financial also issued estimates for Boralex’s FY2024 earnings at $0.76 EPS.

A number of other research firms have also issued reports on BLX. BMO Capital Markets lifted their target price on Boralex to C$37.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Desjardins lifted their target price on Boralex from C$43.00 to C$44.00 and gave the company a “top pick” rating in a report on Monday, January 29th. Finally, CIBC decreased their target price on Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$40.50.

Boralex Trading Down 1.2 %

TSE:BLX opened at C$26.76 on Monday. The firm has a market cap of C$2.75 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. The stock has a fifty day moving average price of C$28.67 and a 200 day moving average price of C$30.01. Boralex has a 12-month low of C$25.40 and a 12-month high of C$41.56. 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 (TSE:BLX) last released its 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 during the quarter, compared to analysts’ expectations of C$262.30 million. Boralex had a net margin of 7.63% and a return on equity of 5.68%.

Boralex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Wednesday, February 28th. Boralex’s dividend payout ratio (DPR) 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.