Boralex Inc. (TSE:BLX) Receives C$39.00 Average Target Price from Analysts

Key Points

• Boralex Inc. has received an average rating of "Buy" from six brokerages, with one hold rating, three buy ratings, and two strong buy ratings in recent analysis.
• The average 12-month price target for Boralex is C$39.00, following recent adjustments by various analysts.
• Boralex operates mostly renewable energy power facilities that utilize wind and hydroelectric sources and has a current market capitalization of C$3.10 billion.

Shares of Boralex Inc. (TSE:BLX - Get Free Report) have earned an average recommendation of "Buy" from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$39.00.

Several research firms have recently weighed in on BLX. Raymond James Financial upgraded Boralex to a "moderate buy" rating in a report on Thursday, May 15th. BMO Capital Markets cut their target price on Boralex from C$42.00 to C$39.00 in a research note on Thursday, May 22nd. National Bank Financial upgraded Boralex to a "strong-buy" rating in a research note on Sunday, June 8th. TD Securities boosted their target price on Boralex from C$35.00 to C$38.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Finally, Desjardins set a C$45.00 target price on Boralex and gave the company a "top pick" rating in a research note on Wednesday, June 18th.

Boralex Stock Down 0.8%

Shares of TSE:BLX traded down C$0.22 during trading on Friday, hitting C$28.88. 363,114 shares of the company's stock traded hands, compared to its average volume of 331,028. Boralex has a 52 week low of C$24.40 and a 52 week high of C$36.63. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. The company has a market cap of C$2.97 billion, a price-to-earnings ratio of -320.89, a price-to-earnings-growth ratio of 2.01 and a beta of 0.40. The company has a 50-day moving average price of C$31.00 and a 200-day moving average price of C$30.14.

Boralex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 15th will be paid a $0.165 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.66 annualized dividend and a yield of 2.3%. Boralex's payout ratio is presently -733.33%.

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.