Boralex (TSE:BLX) Upgraded to Strong-Buy at Cibc World Mkts

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

Several other equities analysts have also recently issued reports on BLX. Scotiabank raised 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. National Bankshares raised their price objective on Boralex from C$43.00 to C$46.00 in a research note on Monday, July 8th. Raymond James reduced their price objective on Boralex from C$40.00 to C$38.00 and set an outperform rating on the stock in a research note on Thursday, April 25th. CIBC raised their price objective on Boralex from C$41.00 to C$42.00 and gave the stock an outperform rating in a research note on Monday. Finally, Desjardins raised their target price on Boralex from C$44.00 to C$46.00 and gave the company a top pick rating in a research note on Friday, June 21st. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Boralex currently has a consensus rating of Buy and an average target price of C$41.67.

Boralex Stock Down 1.1 %

BLX stock opened at C$32.75 on Monday. Boralex has a twelve month low of C$25.40 and a twelve 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. The company has a market capitalization of C$3.37 billion, a P/E 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 200-day simple moving average of C$31.15.

Boralex (TSE:BLX) last announced its quarterly earnings data on Wednesday, May 15th. The company reported C$0.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of C$296.40 million. On average, equities research analysts predict that Boralex will post 1.0561014 earnings per share for the current fiscal year.

Boralex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Friday, May 31st. Boralex’s payout ratio is 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.