Boralex Inc. (TSE:BLX) Receives C$40.50 Consensus Price Target from Brokerages

Boralex Inc. (TSE:BLX) has been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$40.50.

A number of analysts have commented on BLX shares. Scotiabank lowered their target price on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. CIBC lowered their target price on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Cormark lowered their target price on shares of Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. BMO Capital Markets lowered their target price on shares of Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. Finally, National Bankshares decreased their price target on shares of Boralex from C$46.00 to C$43.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th.

Boralex Price Performance

BLX opened at C$27.16 on Tuesday. The company has a fifty day moving average price of C$27.02 and a two-hundred day moving average price of C$31.01. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. Boralex has a 52 week low of C$24.40 and a 52 week high of C$36.68. The firm has a market capitalization of C$2.83 billion, a PE ratio of 39.82, a P/E/G ratio of 2.01 and a beta of 0.46.

Boralex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 17th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, February 28th. Boralex’s payout ratio is presently 96.76%.

Boralex Company Profile

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.