Analysts Set Boralex Inc. (TSE:BLX) Target Price at C$43.22

Shares of Boralex Inc. (TSE:BLX) have received an average rating of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$43.22.

A number of research firms have commented on BLX. Scotiabank boosted their price objective 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. Cormark boosted their target price on shares of Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. BMO Capital Markets raised their price target on shares of Boralex from C$39.00 to C$46.00 in a report on Thursday, September 5th. Royal Bank of Canada upped their price objective on Boralex from C$36.00 to C$38.00 in a report on Thursday, August 15th. Finally, National Bankshares lifted their target price on Boralex from C$43.00 to C$46.00 in a research note on Monday, July 8th.

Boralex Stock Down 1.6 %

BLX opened at C$35.39 on Friday. The firm has a market cap of C$3.64 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 0.94 and a beta of 0.45. The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95. The firm’s 50-day simple moving average is C$33.60 and its 200-day simple moving average is C$31.75. Boralex has a twelve month low of C$25.40 and a twelve month high of C$36.68.

Boralex (TSE:BLX) last issued its quarterly earnings data on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, topping the consensus estimate of C$0.04 by C$0.06. Boralex had a net margin of 9.91% and a return on equity of 6.69%. The firm had revenue of C$180.00 million for the quarter, compared to analysts’ expectations of C$211.65 million. Equities research analysts anticipate that Boralex will post 1.2283737 EPS for the current fiscal year.

Boralex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.66 dividend on an annualized basis and a yield of 1.86%. Boralex’s dividend payout ratio is presently 70.97%.

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.