Boralex (TSE:BLX) Upgraded at Cibc World Mkts

Cibc World Mkts upgraded shares of Boralex (TSE:BLX) to a strong-buy rating in a report published on Monday morning, Zacks.com reports.

Other equities analysts have also issued reports about the stock. Desjardins increased their price objective 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. Scotiabank increased their price objective on shares of Boralex from C$38.00 to C$42.00 and gave the company an outperform rating in a research report on Wednesday, June 12th. Raymond James decreased 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. CIBC increased their price objective on shares of Boralex from C$41.00 to C$42.00 and gave the company an outperform rating in a research report on Monday. Finally, National Bankshares increased their price objective on shares of Boralex from C$43.00 to C$46.00 in a research report on Monday, July 8th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of C$41.67.

Boralex Stock Performance

BLX stock opened at C$32.75 on Monday. The firm has a market cap of C$3.37 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 0.94 and a beta of 0.41. The firm has a 50-day simple moving average of C$33.81 and a two-hundred day simple moving average of C$31.15. Boralex has a one year low of C$25.40 and a one year high of C$36.68. 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 announced its quarterly earnings data on Wednesday, May 15th. The company reported C$0.53 EPS for the quarter, beating the consensus estimate of C$0.48 by C$0.05. The firm had revenue of C$291.00 million during the quarter, compared to analyst estimates of C$296.40 million. Boralex had a net margin of 10.14% and a return on equity of 6.87%. On average, equities analysts forecast that Boralex will post 1.0561014 EPS for the current fiscal year.

Boralex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.02%. The ex-dividend date was Friday, May 31st. Boralex’s dividend payout ratio (DPR) 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.