Boralex Inc. (TSE:BLX) Receives Average Rating of “Moderate Buy” from Analysts

Boralex Inc. (TSE:BLX) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$38.39.

Several analysts have recently issued reports on BLX shares. Raymond James Financial downgraded Boralex from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from C$38.00 to C$37.25 in a research note on Friday, May 15th. National Bank Financial set a C$39.00 price objective on shares of Boralex and gave the stock an “outperform” rating in a report on Tuesday, March 24th. Royal Bank Of Canada upped their price objective on shares of Boralex from C$33.00 to C$37.25 and gave the stock a “sector perform” rating in a report on Tuesday, May 12th. Finally, TD Securities downgraded shares of Boralex from a “buy” rating to a “sell” rating and upped their price objective for the stock from C$32.00 to C$37.25 in a report on Thursday, March 26th.

Boralex Stock Performance

Boralex stock opened at C$36.84 on Friday. The firm’s 50 day simple moving average is C$36.78 and its 200-day simple moving average is C$29.98. The company has a market cap of C$3.79 billion, a P/E ratio of -118.84, a price-to-earnings-growth ratio of 2.01 and a beta of 0.18. The company has a debt-to-equity ratio of 309.98, a current ratio of 1.24 and a quick ratio of 1.54. Boralex has a fifty-two week low of C$23.48 and a fifty-two week high of C$37.05.

Boralex (TSE:BLX) last announced its quarterly earnings data on Thursday, May 14th. The company reported C($0.08) EPS for the quarter. The company had revenue of C$286.00 million for the quarter. Boralex had a negative net margin of 3.56% and a negative return on equity of 2.08%. As a group, equities research analysts predict that Boralex will post 1.3383764 EPS for the current year.

Boralex Announces Dividend

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

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.