FY2024 EPS Estimates for Boralex Inc. Increased by Raymond James (TSE:BLX)

Boralex Inc. (TSE:BLX) – Analysts at Raymond James raised their FY2024 earnings estimates for Boralex in a research note issued to investors on Wednesday, July 24th. Raymond James analyst D. Quezada now forecasts that the company will earn $0.91 per share for the year, up from their previous estimate of $0.88. Raymond James has a “Outperform” rating and a $38.00 price objective on the stock. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. Raymond James also issued estimates for Boralex’s Q1 2025 earnings at $0.50 EPS.

Other equities research analysts also recently issued research reports about the stock. Desjardins increased their price objective on shares of Boralex from C$44.00 to C$46.00 and gave the stock a “top pick” rating in a research report on Friday, June 21st. Scotiabank increased their price objective on shares of Boralex from C$38.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. CIBC increased their price objective on shares of Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Monday. National Bankshares increased their price objective on shares of Boralex from C$43.00 to C$46.00 in a research report on Monday, July 8th. Finally, Cibc World Mkts raised shares of Boralex to a “strong-buy” rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Boralex presently has a consensus rating of “Buy” and a consensus target price of C$41.67.

Boralex Stock Up 0.4 %

Shares of BLX stock opened at C$32.87 on Friday. The firm has a fifty day moving average of C$33.83 and a 200-day moving average of C$31.16. The company has a quick ratio of 1.54, a current ratio of 1.16 and a debt-to-equity ratio of 172.42. Boralex has a 12-month low of C$25.40 and a 12-month high of C$36.68. The company has a market capitalization of C$3.38 billion, a price-to-earnings ratio of 33.54, a P/E/G ratio of 0.94 and a beta of 0.41.

Boralex (TSE:BLX) last issued its earnings results on Wednesday, May 15th. The company reported C$0.53 EPS for the quarter, beating the consensus estimate of C$0.48 by C$0.05. Boralex had a net margin of 10.14% and a return on equity of 6.87%. The firm had revenue of C$291.00 million during the quarter, compared to the consensus estimate of C$296.40 million.

Boralex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Friday, May 31st. Boralex’s dividend payout ratio is currently 67.35%.

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.