CIBC Lowers Boralex (TSE:BLX) Price Target to C$36.00

Boralex (TSE:BLX) had its price objective lowered by research analysts at CIBC from C$37.00 to C$36.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 40.02% from the stock’s current price.

Several other brokerages have also issued reports on BLX. Royal Bank Of Canada dropped their target price on shares of Boralex from C$38.00 to C$36.00 in a research report on Monday, November 10th. Scotiabank lowered their price objective on shares of Boralex from C$35.00 to C$31.00 in a research report on Tuesday, December 16th. Finally, Desjardins cut their target price on shares of Boralex from C$45.00 to C$43.00 and set a “top pick” rating for the company in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$38.44.

Boralex Stock Down 0.5%

BLX opened at C$25.71 on Wednesday. The company has a fifty day moving average price of C$25.38 and a 200-day moving average price of C$27.80. The firm has a market capitalization of C$2.64 billion, a P/E ratio of -116.86, a price-to-earnings-growth ratio of 2.01 and a beta of 0.44. 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 has a one year low of C$23.48 and a one year 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 (EPS) 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 during the quarter. Equities research analysts expect that Boralex will post 1.3383764 earnings per share for the current fiscal year.

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.