Boralex Inc. (TSE:BLX) Receives C$43.22 Consensus PT from Brokerages

Shares of Boralex Inc. (TSE:BLX) have earned a consensus rating of “Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is C$43.50.

Several equities research analysts have weighed in on the stock. Royal Bank of Canada increased their price target on shares of Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th. Cibc World Mkts upgraded shares of Boralex to a “strong-buy” rating in a report on Monday, July 22nd. BMO Capital Markets boosted their price target on Boralex from C$39.00 to C$46.00 in a report on Thursday, September 5th. Raymond James upped their price target on Boralex from C$38.00 to C$41.00 in a research report on Thursday, August 15th. Finally, National Bankshares lifted their price objective on Boralex from C$43.00 to C$46.00 in a research report on Monday, July 8th.

Boralex Stock Up 0.1 %

BLX opened at C$36.02 on Wednesday. The company has a market cap of C$3.70 billion, a P/E ratio of 38.73, a P/E/G ratio of 2.01 and a beta of 0.46. Boralex has a 12 month low of C$25.40 and a 12 month high of C$36.68. The business’s 50-day moving average price is C$34.17 and its 200-day moving average price is C$32.39. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24.

Boralex (TSE:BLX) last announced its quarterly earnings data on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, beating the consensus estimate of C$0.04 by C$0.06. Boralex had a return on equity of 6.69% and a net margin of 9.91%. The firm had revenue of C$180.00 million during the quarter, compared to the consensus estimate of C$211.65 million. On average, equities analysts expect that Boralex will post 1.3383764 EPS for the current year.

Boralex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were issued a dividend of $0.165 per share. The ex-dividend date was Friday, August 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.83%. Boralex’s dividend payout ratio (DPR) is 70.97%.

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.