Boralex (TSE:BLX) Stock Rating Lowered by TD Securities

Boralex (TSE:BLX) was downgraded by research analysts at TD Securities from a “buy” rating to a “sell” rating in a report released on Thursday, Marketbeat Ratings reports. They presently have a C$37.25 price target on the stock, up from their previous price target of C$32.00. TD Securities’ target price indicates a potential upside of 1.50% from the stock’s current price.

BLX has been the subject of several other research reports. Scotiabank reduced their price objective on shares of Boralex from C$41.00 to C$39.00 and set an “outperform” rating for the company in a report on Wednesday, January 21st. Canadian Imperial Bank of Commerce lowered their target price on shares of Boralex from C$37.00 to C$36.00 in a research note on Wednesday, January 21st. Finally, National Bank Financial set a C$39.00 price target on shares of Boralex and gave the stock an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Boralex has a consensus rating of “Moderate Buy” and a consensus price target of C$38.46.

Boralex Trading Up 0.2%

Shares of TSE:BLX opened at C$36.70 on Thursday. The company’s 50-day moving average price is C$27.68 and its 200 day moving average price is C$26.97. The company has a market cap of C$3.77 billion, a PE ratio of 611.67, a P/E/G ratio of 2.01 and a beta of 0.73. The company has a quick ratio of 1.54, a current ratio of 1.29 and a debt-to-equity ratio of 323.15. Boralex has a fifty-two week low of C$23.48 and a fifty-two week high of C$36.78.

Boralex (TSE:BLX) last announced its quarterly earnings results on Friday, February 27th. The company reported C$0.13 earnings per share (EPS) for the quarter. The company had revenue of C$258.00 million during the quarter. Boralex had a return on equity of 0.45% and a net margin of 0.84%. Sell-side 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. 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.