Boralex (TSE:BLX) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of Boralex Inc. (TSE:BLX) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$30.50 and traded as high as C$36.88. Boralex shares last traded at C$36.86, with a volume of 244,528 shares changing hands.

Analyst Ratings Changes

BLX has been the subject of a number of research reports. Raymond James Financial downgraded shares of Boralex from an “outperform” rating to a “market perform” rating and reduced their price target for the company from C$38.00 to C$37.25 in a research report on Friday, May 15th. Royal Bank Of Canada lifted their price target on shares of Boralex from C$33.00 to C$37.25 and gave the company a “sector perform” rating in a research report on Tuesday, May 12th. National Bank Financial set a C$39.00 price target on shares of Boralex and gave the company an “outperform” rating in a research report on Tuesday, March 24th. Finally, TD Securities downgraded shares of Boralex from a “buy” rating to a “sell” rating and lifted their price target for the company from C$32.00 to C$37.25 in a research report on Thursday, March 26th. One 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 issued a Sell rating to the company. According to MarketBeat, Boralex has an average rating of “Moderate Buy” and a consensus price target of C$38.39.

Boralex Stock Performance

The stock’s 50-day moving average price is C$36.81 and its 200-day moving average price is C$30.50. The company has a debt-to-equity ratio of 309.98, a quick ratio of 1.54 and a current ratio of 1.24. The company has a market capitalization 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 0.18.

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

Boralex Announces Dividend

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