Boralex (TSE:BLX) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Boralex Inc. (TSE:BLX)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$29.86 and traded as high as C$36.94. Boralex shares last traded at C$36.86, with a volume of 701,547 shares traded.

Analyst Ratings Changes

Several research analysts recently weighed in on BLX shares. Royal Bank Of Canada boosted their target price on shares of Boralex from C$33.00 to C$37.25 and gave the company a “sector perform” rating in a research note on Tuesday, May 12th. National Bank Financial set a C$39.00 target price on shares of Boralex and gave the company an “outperform” rating in a research note on Tuesday, March 24th. TD Securities downgraded shares of Boralex from a “buy” rating to a “sell” rating and boosted their target price for the company from C$32.00 to C$37.25 in a research note on Thursday, March 26th. Finally, Raymond James Financial downgraded shares of Boralex from an “outperform” rating to a “market perform” rating and cut their target price for the company from C$38.00 to C$37.25 in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$38.39.

Boralex Stock Down 0.0%

The firm’s 50 day moving average is C$36.70 and its two-hundred day moving average is C$29.86. The stock has a market cap of C$3.79 billion, a price-to-earnings ratio of -118.90, a P/E/G ratio of 2.01 and a beta of 0.26. The company has a current ratio of 1.24, a quick ratio of 1.54 and a debt-to-equity ratio of 309.98.

Boralex (TSE:BLX) last announced its earnings results on Thursday, May 14th. The company reported C($0.08) earnings per share for the quarter. Boralex had a negative net margin of 3.56% and a negative return on equity of 2.08%. The firm had revenue of C$286.00 million during the quarter. On average, sell-side analysts predict that Boralex Inc. will post 1.3383764 EPS for the current year.

Boralex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.8%. Boralex’s dividend payout ratio is currently -212.90%.

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.