Boralex Inc. (TSE:BLX) Given Consensus Rating of “Buy” by Analysts

Boralex Inc. (TSE:BLX) has been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$40.25.

BLX has been the subject of several research analyst reports. BMO Capital Markets raised their price target on shares of Boralex to C$37.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. CIBC reduced their price objective on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Raymond James reduced their price objective on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Desjardins raised their price target on shares of Boralex from C$43.00 to C$44.00 and gave the company a “top pick” rating in a report on Monday, January 29th.

Boralex Price Performance

Shares of TSE BLX opened at C$27.31 on Wednesday. Boralex has a fifty-two week low of C$25.40 and a fifty-two week high of C$40.03. The stock has a market cap of C$2.81 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 0.94 and a beta of 0.41. The company has a debt-to-equity ratio of 179.25, a quick ratio of 1.54 and a current ratio of 1.08. The firm’s 50-day simple moving average is C$28.35 and its 200 day simple moving average is C$29.95.

Boralex (TSE:BLX) last posted its quarterly earnings data on Friday, March 1st. The company reported C$0.36 EPS for the quarter, missing the consensus estimate of C$0.51 by C($0.15). The firm had revenue of C$315.00 million during the quarter, compared to analysts’ expectations of C$262.30 million. Boralex had a net margin of 7.63% and a return on equity of 5.68%. As a group, research analysts anticipate that Boralex will post 1.0599765 earnings per share for the current fiscal year.

Boralex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, February 28th. Boralex’s dividend payout ratio is currently 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.