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

Boralex Inc. (TSE:BLX) has been assigned a consensus rating of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$40.50.

Several research analysts recently issued reports on BLX shares. CIBC dropped their price target on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. Desjardins raised their price objective on shares of Boralex from C$43.00 to C$44.00 and gave the stock a “top pick” rating in a report on Monday, January 29th. Finally, BMO Capital Markets boosted their target price on Boralex to C$37.00 and gave the stock an “outperform” rating in a report on Monday, March 4th.

Boralex Stock Up 2.1 %

Shares of Boralex stock opened at C$27.57 on Wednesday. The firm has a market cap of C$2.83 billion, a price-to-earnings ratio of 36.28, a P/E/G ratio of 0.94 and a beta of 0.41. The stock has a 50-day simple moving average of C$28.53 and a 200-day simple moving average of C$29.99. Boralex has a 52-week low of C$25.40 and a 52-week high of C$41.56. The company has a debt-to-equity ratio of 179.25, a current ratio of 1.08 and a quick ratio of 1.54.

Boralex (TSE:BLX) last announced its earnings results on Friday, March 1st. The company reported C$0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.15). The company had revenue of C$315.00 million for the quarter, compared to the consensus estimate of C$262.30 million. Boralex had a return on equity of 5.68% and a net margin of 7.63%. On average, equities research analysts expect that Boralex will post 1.0599765 earnings per share for the current fiscal year.

Boralex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Wednesday, February 28th. Boralex’s dividend payout ratio is 86.84%.

Boralex Company Profile

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.