Royal Bank Of Canada Issues Positive Forecast for Boralex (TSE:BLX) Stock Price

Boralex (TSE:BLX) had its price objective upped by research analysts at Royal Bank Of Canada from C$33.00 to C$37.25 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 1.17% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Scotiabank decreased their price objective on shares of Boralex from C$41.00 to C$39.00 and set an “outperform” rating for the company in a research report on Wednesday, January 21st. TD Securities cut shares of Boralex from a “buy” rating to a “sell” rating and upped their price objective for the company from C$32.00 to C$37.25 in a research report on Thursday, March 26th. National Bank Financial set a C$39.00 target price on Boralex and gave the company an “outperform” rating in a research report on Tuesday, March 24th. Finally, Canadian Imperial Bank of Commerce cut their target price on Boralex from C$37.00 to C$36.00 in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$38.64.

Boralex Stock Up 0.0%

Boralex stock traded up C$0.01 during midday trading on Tuesday, hitting C$36.82. 439,473 shares of the company were exchanged, compared to its average volume of 745,020. The company’s fifty day moving average price is C$33.61 and its 200-day moving average price is C$28.81. The company has a market cap of C$3.78 billion, a PE ratio of 613.67, a price-to-earnings-growth ratio of 2.01 and a beta of 0.26. The company has a debt-to-equity ratio of 323.15, a current ratio of 1.29 and a quick ratio of 1.54. Boralex has a fifty-two week low of C$23.48 and a fifty-two week high of C$36.99.

Boralex (TSE:BLX) last released its quarterly earnings results on Friday, February 27th. The company reported C$0.13 EPS 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, research analysts predict that Boralex will post 1.3383764 EPS 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.