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

Boralex Inc. (TSE:BLX) has been given an average recommendation of “Buy” by the nine research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$41.56.

A number of analysts have recently commented on the stock. Scotiabank lifted their price target on shares of Boralex from C$38.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. Raymond James cut their target price 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. Desjardins increased their price target on Boralex from C$44.00 to C$46.00 and gave the company a “top pick” rating in a report on Friday, June 21st. CIBC raised their price objective on shares of Boralex from C$39.00 to C$41.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Finally, National Bankshares upped their target price on shares of Boralex from C$43.00 to C$46.00 in a report on Monday, July 8th.

Boralex Stock Performance

Shares of BLX opened at C$35.01 on Monday. The company has a market cap of C$3.60 billion, a price-to-earnings ratio of 35.72, a P/E/G ratio of 0.94 and a beta of 0.41. The business’s fifty day simple moving average is C$33.25 and its two-hundred day simple moving average is C$31.13. Boralex has a 12 month low of C$25.40 and a 12 month high of C$36.68. 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 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 return on equity of 6.87% and a net margin of 10.14%. The firm had revenue of C$291.00 million for the quarter, compared to the consensus estimate of C$296.40 million. Research analysts anticipate that Boralex will post 1.0561014 earnings per share for the current fiscal year.

Boralex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a $0.165 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.89%. Boralex’s dividend payout ratio is currently 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.