Raymond James Cuts Boralex (TSE:BLX) Price Target to C$39.00

Boralex (TSE:BLX) had its price objective decreased by Raymond James from C$41.00 to C$39.00 in a report issued on Monday,BayStreet.CA reports.

Several other equities analysts have also issued reports on the company. BMO Capital Markets decreased their price objective on Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. Scotiabank reduced their price objective on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. CIBC lowered their price target on Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. National Bankshares cut their target price on shares of Boralex from C$46.00 to C$43.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. Finally, Cormark decreased their price objective on shares of Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$40.25.

Boralex Price Performance

Shares of BLX opened at C$28.93 on Monday. The stock has a market cap of C$3.01 billion, a P/E ratio of 42.41, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The stock’s 50-day moving average price is C$26.99 and its two-hundred day moving average price is C$30.77. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. Boralex has a 1 year low of C$24.40 and a 1 year high of C$36.68.

Boralex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 2.28%. Boralex’s dividend payout ratio (DPR) is presently 96.76%.

About Boralex

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power.