Scotiabank Lowers Boralex (TSE:BLX) Price Target to C$39.00

Boralex (TSE:BLX) had its target price decreased by analysts at Scotiabank from C$41.00 to C$39.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 51.69% from the company’s current price.

A number of other analysts also recently issued reports on BLX. Desjardins dropped their price target on shares of Boralex from C$45.00 to C$43.00 and set a “top pick” rating on the stock in a report on Tuesday, October 28th. CIBC lowered their price objective on shares of Boralex from C$37.00 to C$36.00 in a research report on Wednesday. Finally, 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. Two analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$38.44.

Boralex Stock Down 0.5%

BLX stock opened at C$25.71 on Wednesday. The stock has a market capitalization of C$2.64 billion, a P/E ratio of -116.86, a P/E/G 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 1-year low of C$23.48 and a 1-year high of C$33.30. The business has a fifty day moving average price of C$25.38 and a 200-day moving average price of C$27.80.

Boralex (TSE:BLX) last released its quarterly earnings data on Friday, November 7th. The company reported C($0.26) EPS for the quarter. Boralex had a net margin of 7.55% and a return on equity of 4.29%. The business had revenue of C$157.00 million for the quarter. Equities analysts forecast 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.