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

Shares of Boralex Inc. (TSE:BLX) have received a consensus rating of “Buy” from the six analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is C$38.22.

A number of analysts have recently weighed in on the stock. CIBC reduced their price objective on shares of Boralex from C$39.00 to C$38.00 in a research note on Monday, November 10th. Royal Bank Of Canada cut their target price on shares of Boralex from C$38.00 to C$36.00 in a research report on Monday, November 10th. National Bankshares decreased their price target on shares of Boralex from C$43.00 to C$41.00 and set an “outperform” rating for the company in a report on Monday, August 11th. Desjardins lowered their price target on Boralex from C$45.00 to C$43.00 and set a “top pick” rating on the stock in a research report on Tuesday, October 28th. Finally, Scotiabank cut their price objective on Boralex from C$36.00 to C$35.00 and set a “sector perform” rating for the company in a research report on Monday, August 11th.

Boralex Stock Performance

BLX opened at C$24.48 on Tuesday. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. The company has a market cap of C$2.52 billion, a PE ratio of -111.27, a price-to-earnings-growth ratio of 2.01 and a beta of 0.33. The stock has a 50-day moving average of C$27.30 and a 200-day moving average of C$29.43. Boralex has a 52-week low of C$24.08 and a 52-week high of C$33.30.

Boralex (TSE:BLX) last issued its quarterly earnings data on Friday, November 7th. The company reported C($0.26) earnings per share for the quarter. The company had revenue of C$157.00 million during the quarter. Boralex had a net margin of 7.55% and a return on equity of 4.29%. As a group, equities research analysts forecast that Boralex will post 1.3383764 earnings per share for the current fiscal year.

Boralex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 15th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, November 28th. Boralex’s dividend payout ratio is currently -300.00%.

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.