Boralex Inc. (TSE:BLX) Given Average Recommendation of “Moderate Buy” by Brokerages

Boralex Inc. (TSE:BLX) has earned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$38.39.

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

Boralex Trading Up 0.1%

TSE:BLX opened at C$37.00 on Wednesday. Boralex has a twelve month low of C$23.48 and a twelve month high of C$37.05. The company has a quick ratio of 1.54, a current ratio of 1.24 and a debt-to-equity ratio of 309.98. The business has a 50 day moving average price of C$36.85 and a two-hundred day moving average price of C$31.47. The company has a market cap of C$3.80 billion, a P/E ratio of -119.35, a price-to-earnings-growth 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) earnings per share for the quarter. Boralex had a negative return on equity of 2.08% and a negative net margin of 3.56%.The firm had revenue of C$286.00 million for the quarter. As a group, analysts expect that Boralex will post 1.3383764 EPS for the current fiscal year.

Boralex Dividend Announcement

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