Boralex (TSE:BLX) Sets New 1-Year High – Still a Buy?

Boralex Inc. (TSE:BLX) reached a new 52-week high during trading on Tuesday . The company traded as high as C$37.04 and last traded at C$36.95, with a volume of 627096 shares changing hands. The stock had previously closed at C$36.90.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada upped their price target on shares of Boralex from C$33.00 to C$37.25 and gave the stock a “sector perform” rating in a research report on Tuesday, May 12th. National Bank Financial set a C$39.00 price objective on shares of Boralex and gave the company an “outperform” rating in a report on Tuesday, March 24th. TD Securities downgraded shares of Boralex from a “buy” rating to a “sell” rating and boosted their price objective for the stock from C$32.00 to C$37.25 in a research note on Thursday, March 26th. Finally, Raymond James Financial lowered Boralex from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from C$38.00 to C$37.25 in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Boralex has an average rating of “Moderate Buy” and an average target price of C$38.39.

Boralex Price Performance

The firm has a market capitalization of C$3.80 billion, a P/E ratio of -119.19, a P/E/G ratio of 2.01 and a beta of 0.18. The company has a debt-to-equity ratio of 309.98, a current ratio of 1.24 and a quick ratio of 1.53. The stock’s fifty day simple moving average is C$36.82 and its 200 day simple moving average is C$30.94.

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 net margin of 3.56% and a negative return on equity of 2.08%. The firm had revenue of C$286.00 million during the quarter. On average, equities research analysts predict that Boralex Inc. will post 1.3383764 EPS for the current year.

Boralex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.66 dividend on an annualized basis and a yield of 1.8%. Boralex’s dividend payout ratio is presently -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.