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

Boralex Inc. (TSE:BLX)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$27.18 and traded as high as C$27.87. Boralex shares last traded at C$27.52, with a volume of 612,373 shares trading hands.

Analysts Set New Price Targets

Several research firms have commented on BLX. Royal Bank Of Canada reduced their price objective on Boralex from C$38.00 to C$36.00 in a report on Monday, November 10th. Canadian Imperial Bank of Commerce dropped their price target on Boralex from C$37.00 to C$36.00 in a research report on Wednesday, January 21st. Desjardins cut their price target on Boralex from C$45.00 to C$43.00 and set a “top pick” rating on the stock in a research note on Tuesday, October 28th. Finally, Scotiabank lowered their price objective on shares of Boralex from C$41.00 to C$39.00 and set an “outperform” rating for the company in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$38.88.

Boralex Price Performance

The firm has a market capitalization of C$2.83 billion, a PE ratio of -125.09, a P/E/G ratio of 2.01 and a beta of 0.58. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. The stock has a fifty day moving average price of C$25.80 and a 200-day moving average price of C$27.18.

Boralex (TSE:BLX) last issued its quarterly earnings data on Friday, November 7th. The company reported C($0.26) earnings per share for the quarter. Boralex had a net margin of 7.55% and a return on equity of 4.29%. The company had revenue of C$157.00 million for the quarter. Sell-side analysts forecast that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.

Boralex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, November 28th. Boralex’s dividend payout ratio (DPR) is currently -300.00%.

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.