BMO Capital Markets Has Lowered Expectations for Boralex (TSE:BLX) Stock Price

Boralex (TSE:BLX) had its target price dropped by analysts at BMO Capital Markets from C$46.00 to C$45.00 in a research note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ target price points to a potential upside of 41.55% from the company’s previous close.

BLX has been the topic of a number of other research reports. CIBC lowered their price target on Boralex from C$43.00 to C$42.00 in a research report on Friday. Royal Bank of Canada boosted their price objective on shares of Boralex from C$36.00 to C$38.00 in a report on Thursday, August 15th. Cormark upped their price objective on Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. Raymond James upped their target price on shares of Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. Finally, Cibc World Mkts raised shares of Boralex to a “strong-buy” rating in a report on Monday, July 22nd. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$43.38.

Boralex Stock Performance

Shares of BLX traded down C$1.08 on Friday, reaching C$31.79. 167,554 shares of the company’s stock traded hands, compared to its average volume of 257,879. The stock’s 50 day simple moving average is C$34.17 and its two-hundred day simple moving average is C$33.07. Boralex has a 52-week low of C$26.25 and a 52-week high of C$36.68. The stock has a market cap of C$3.27 billion, a PE ratio of 34.18, a PEG ratio of 2.01 and a beta of 0.46. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24.

Boralex (TSE:BLX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported C$0.10 EPS for the quarter, topping analysts’ consensus estimates of C$0.04 by C$0.06. The firm had revenue of C$180.00 million during the quarter, compared to analyst estimates of C$211.65 million. Boralex had a return on equity of 6.69% and a net margin of 9.91%. On average, analysts forecast that Boralex will post 1.3383764 earnings per share for the current fiscal year.

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.