Scotiabank Lowers Boralex (TSE:BLX) Price Target to C$31.00

Boralex (TSE:BLX) had its price target cut by analysts at Scotiabank from C$35.00 to C$31.00 in a research report issued on Tuesday,BayStreet.CA reports. Scotiabank’s price target indicates a potential upside of 24.05% from the company’s current price.

Other analysts also recently issued research reports about the stock. CIBC dropped their target price on shares of Boralex from C$39.00 to C$38.00 in a research report on Monday, November 10th. Royal Bank Of Canada decreased their price objective on shares of Boralex from C$38.00 to C$36.00 in a research note on Monday, November 10th. Finally, Desjardins cut their target price on shares of Boralex from C$45.00 to C$43.00 and set a “top pick” rating on the stock in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$37.67.

Boralex Price Performance

Shares of Boralex stock opened at C$24.99 on Tuesday. The business’s fifty day moving average price is C$26.54 and its 200 day moving average price is C$28.91. Boralex has a twelve month low of C$23.48 and a twelve month high of C$33.30. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. The stock has a market capitalization of C$2.57 billion, a P/E ratio of -113.59, a PEG ratio of 2.01 and a beta of 0.31.

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

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.