Boralex Inc. (TSE:BLX) Receives C$43.22 Consensus Target Price from Analysts

Shares of Boralex Inc. (TSE:BLX) have been assigned a consensus rating of “Buy” from the nine research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$43.22.

Several equities analysts recently issued reports on the company. Cormark boosted their price objective on Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th. National Bankshares upped their price target on shares of Boralex from C$43.00 to C$46.00 in a report on Monday, July 8th. Royal Bank of Canada raised their price objective on shares of Boralex from C$36.00 to C$38.00 in a report on Thursday, August 15th. BMO Capital Markets increased their target price on Boralex from C$39.00 to C$46.00 in a report on Thursday, September 5th. Finally, Raymond James boosted their price target on Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th.

Boralex Trading Down 1.6 %

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

Boralex (TSE:BLX) last posted its earnings results 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 return on equity of 6.69% and a net margin of 9.91%. The firm had revenue of C$180.00 million for the quarter, compared to analyst estimates of C$211.65 million. Equities research analysts predict that Boralex will post 1.2283737 EPS for the current year.

Boralex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.66 annualized dividend and a yield of 1.86%. Boralex’s dividend payout ratio (DPR) 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.