Boralex (TSE:BLX) Hits New 1-Year High – Here’s What Happened

Boralex Inc. (TSE:BLX)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$36.78 and last traded at C$36.75, with a volume of 2844881 shares trading hands. The stock had previously closed at C$36.60.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce dropped their target price on Boralex from C$37.00 to C$36.00 in a report on Wednesday, January 21st. Scotiabank dropped their target price on 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 Boralex and gave the company an “outperform” rating in a report on Tuesday, March 24th. Finally, TD Securities lowered Boralex from a “buy” rating to a “sell” rating and boosted their target price for the company from C$32.00 to C$37.25 in a report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$38.46.

Boralex Price Performance

The stock has a fifty day moving average of C$29.15 and a two-hundred day moving average of C$27.43. The stock has a market cap of C$3.77 billion, a price-to-earnings ratio of 611.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.04. The company has a quick ratio of 1.54, a current ratio of 1.29 and a debt-to-equity ratio of 323.15.

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