Boralex Inc. (TSE:BLX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Boralex Inc. (TSE:BLX) have been given a consensus rating of “Buy” by the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$41.67.

A number of equities research analysts have weighed in on the company. National Bankshares lifted their target price on Boralex from C$43.00 to C$46.00 in a research report on Monday, July 8th. Cibc World Mkts raised Boralex to a “strong-buy” rating in a research report on Monday, July 22nd. CIBC boosted their price target on Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Scotiabank upped 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. Finally, Raymond James decreased 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.

Boralex Price Performance

Shares of BLX stock opened at C$34.81 on Friday. Boralex has a 52-week low of C$25.40 and a 52-week 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. The firm has a market capitalization of C$3.58 billion, a P/E ratio of 35.52, a P/E/G ratio of 0.94 and a beta of 0.41. The stock has a 50 day moving average price of C$34.06 and a 200 day moving average price of C$31.25.

Boralex (TSE:BLX) last issued its earnings results on Wednesday, May 15th. The company reported C$0.53 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.48 by C$0.05. The business had revenue of C$291.00 million during 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%. As a group, sell-side analysts predict that Boralex will post 1.0561014 earnings per share for the current year.

Boralex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, May 31st. 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.