Boralex Inc. (TSE:BLX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Boralex Inc. (TSE:BLX) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$38.64.

Several analysts recently weighed in on the stock. Scotiabank reduced their target price on shares of Boralex from C$41.00 to C$39.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. National Bank Financial set a C$39.00 target price on shares of Boralex and gave the company an “outperform” rating in a report on Tuesday, March 24th. Royal Bank Of Canada raised their target price on shares of Boralex from C$33.00 to C$37.25 and gave the company a “sector perform” rating in a report on Tuesday. Canadian Imperial Bank of Commerce reduced their target price on shares of Boralex from C$37.00 to C$36.00 in a report on Wednesday, January 21st. Finally, TD Securities cut shares of Boralex from a “buy” rating to a “sell” rating and raised their price objective for the stock from C$32.00 to C$37.25 in a report on Thursday, March 26th.

Boralex Trading Up 0.1%

BLX stock traded up C$0.02 during mid-day trading on Tuesday, hitting C$36.83. 617,457 shares of the company were exchanged, compared to its average volume of 747,084. The company has a quick ratio of 1.54, a current ratio of 1.29 and a debt-to-equity ratio of 323.15. The firm has a market capitalization of C$3.78 billion, a P/E ratio of 613.83, a PEG ratio of 2.01 and a beta of 0.26. The business has a fifty day simple moving average of C$33.61 and a 200-day simple moving average of C$28.81. Boralex has a 12-month low of C$23.48 and a 12-month high of C$36.99.

Boralex (TSE:BLX) last posted its quarterly earnings data on Friday, February 27th. The company reported C$0.13 EPS for the quarter. Boralex had a net margin of 0.84% and a return on equity of 0.45%. The business had revenue of C$258.00 million during the quarter. On average, equities research analysts predict that Boralex will post 1.3383764 earnings per share for the current fiscal year.

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.