Boralex (TSE:BLX) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Boralex Inc. (TSE:BLX)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$31.47 and traded as high as C$37.02. Boralex shares last traded at C$37.00, with a volume of 341,654 shares changing hands.

Wall Street Analyst Weigh In

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

Boralex Stock Up 0.1%

The company has a quick ratio of 1.53, a current ratio of 1.24 and a debt-to-equity ratio of 309.98. The business has a 50-day simple moving average of C$36.85 and a 200-day simple moving average of C$31.47. The stock has a market cap of C$3.80 billion, a P/E ratio of -119.35, a PEG ratio of 2.01 and a beta of 0.18.

Boralex (TSE:BLX) last released its quarterly earnings results on Thursday, May 14th. The company reported C($0.08) EPS 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. Analysts expect that Boralex Inc. will post 1.3383764 EPS for the current year.

Boralex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were paid a $0.165 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.66 dividend on an annualized basis and a yield of 1.8%. Boralex’s dividend payout ratio (DPR) is presently -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.