Boralex Inc. (TSE:BLX) Expected to Earn Q3 2024 Earnings of ($0.19) Per Share

Boralex Inc. (TSE:BLX) – Research analysts at National Bank Financial dropped their Q3 2024 earnings per share estimates for Boralex in a report issued on Wednesday, April 17th. National Bank Financial analyst R. Merer now anticipates that the company will post earnings per share of ($0.19) for the quarter, down from their prior estimate of ($0.18). The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. National Bank Financial also issued estimates for Boralex’s FY2024 earnings at $0.76 EPS.

Boralex (TSE:BLX) last issued its quarterly earnings data 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). Boralex had a return on equity of 5.68% and a net margin of 7.63%. The firm had revenue of C$315.00 million for the quarter, compared to the consensus estimate of C$262.30 million.

A number of other brokerages have also recently issued reports on BLX. CIBC reduced their price objective on Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a report on Friday, April 19th. BMO Capital Markets boosted their price objective on Boralex to C$37.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Finally, Desjardins boosted their price objective on Boralex from C$43.00 to C$44.00 and gave the stock a “top pick” rating in a report on Monday, January 29th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$40.50.

Boralex Trading Up 2.1 %

Shares of TSE:BLX opened at C$27.57 on Monday. Boralex has a 12-month low of C$25.40 and a 12-month high of C$41.56. The stock has a market cap of C$2.83 billion, a PE ratio of 36.28, a P/E/G ratio of 0.94 and a beta of 0.41. The business has a 50 day moving average of C$28.53 and a 200-day moving average of C$29.99. The company has a quick ratio of 1.54, a current ratio of 1.08 and a debt-to-equity ratio of 179.25.

Boralex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.39%. Boralex’s 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.