Boralex Inc. (TSE:BLX) Receives Average Recommendation of “Buy” from Brokerages

Shares of Boralex Inc. (TSE:BLX) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$41.56.

Several analysts have recently issued reports on BLX shares. Desjardins lifted their target price on shares of Boralex from C$44.00 to C$46.00 and gave the company a “top pick” rating in a research report on Friday, June 21st. National Bankshares lifted their price objective on Boralex from C$43.00 to C$46.00 in a report on Monday, July 8th. Raymond James cut their price objective 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. CIBC raised their target price 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. Finally, 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 note on Wednesday, June 12th.

Boralex Stock Performance

Shares of BLX stock opened at C$35.01 on Monday. The company has a market capitalization of C$3.60 billion, a P/E ratio of 35.72, a P/E/G ratio of 0.94 and a beta of 0.41. Boralex has a 12-month low of C$25.40 and a 12-month high of C$36.68. The business’s 50 day moving average is C$33.25 and its two-hundred day moving average is C$31.13. The company has a current ratio of 1.16, a quick ratio of 1.54 and a debt-to-equity ratio of 172.42.

Boralex (TSE:BLX) last announced its 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. The firm had revenue of C$291.00 million for the quarter, compared to analyst estimates of C$296.40 million. Boralex had a return on equity of 6.87% and a net margin of 10.14%. Analysts expect that Boralex will post 1.0561014 EPS for the current fiscal year.

Boralex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.66 annualized dividend and a dividend yield of 1.89%. Boralex’s dividend payout ratio is presently 67.35%.

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.