Boralex Inc. Forecasted to Earn Q4 2024 Earnings of $0.58 Per Share (TSE:BLX)

Boralex Inc. (TSE:BLX) – Investment analysts at National Bank Financial lifted their Q4 2024 earnings per share estimates for Boralex in a research note issued on Monday, July 8th. National Bank Financial analyst R. Merer now expects that the company will earn $0.58 per share for the quarter, up from their prior estimate of $0.57. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. National Bank Financial also issued estimates for Boralex’s FY2025 earnings at $0.95 EPS.

A number of other research analysts have also weighed in on BLX. CIBC raised their price objective on Boralex from C$39.00 to C$41.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Scotiabank lifted their price target on Boralex from C$38.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Raymond James cut their price objective on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. National Bankshares raised their price target on shares of Boralex from C$43.00 to C$46.00 in a research report on Monday. Finally, Desjardins lifted their target price on Boralex from C$44.00 to C$46.00 and gave the stock a “top pick” rating in a report on Friday, June 21st. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boralex has an average rating of “Buy” and a consensus price target of C$41.56.

Boralex Price Performance

Shares of TSE BLX opened at C$34.69 on Wednesday. The company has a 50 day simple moving average of C$33.15 and a two-hundred day simple moving average of C$31.14. Boralex has a fifty-two week low of C$25.40 and a fifty-two week high of C$36.68. The company has a market capitalization of C$3.57 billion, a price-to-earnings ratio of 35.40, a P/E/G ratio of 0.94 and a beta of 0.41. The company has a debt-to-equity ratio of 172.42, a quick ratio of 1.54 and a current ratio of 1.16.

Boralex (TSE:BLX) last issued its quarterly earnings results on Wednesday, May 15th. The company reported C$0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.48 by C$0.05. Boralex had a net margin of 10.14% and a return on equity of 6.87%. The company had revenue of C$291.00 million during the quarter, compared to analysts’ expectations of C$296.40 million.

Boralex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a $0.165 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.66 annualized dividend and a yield of 1.90%. Boralex’s payout ratio is 67.35%.

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.