Boralex Inc. (TSE:BLX) Given Average Rating of “Buy” by Brokerages

Boralex Inc. (TSE:BLX) has earned an average rating of “Buy” from the six analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$37.67.

BLX has been the subject of several recent research reports. Royal Bank Of Canada decreased their target price on shares of Boralex from C$38.00 to C$36.00 in a research note on Monday, November 10th. Desjardins reduced their price objective on Boralex from C$45.00 to C$43.00 and set a “top pick” rating for the company in a research note on Tuesday, October 28th. CIBC decreased their price objective on Boralex from C$38.00 to C$37.00 in a research report on Wednesday, December 17th. Finally, Scotiabank lowered their target price on Boralex from C$35.00 to C$31.00 in a research note on Tuesday, December 16th.

Boralex Stock Performance

Shares of Boralex stock opened at C$25.53 on Friday. The firm’s fifty day simple moving average is C$26.14 and its 200-day simple moving average is C$28.61. The stock has a market capitalization of C$2.62 billion, a price-to-earnings ratio of -116.05, a PEG ratio of 2.01 and a beta of 0.31. Boralex has a 12 month low of C$23.48 and a 12 month high of C$33.30. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54.

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

Boralex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, November 28th. Boralex’s dividend payout ratio (DPR) is -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. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.