Boralex Inc. (TSE:BLX) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Boralex Inc. has received a consensus rating of "Buy" from analysts, with six firms covering the stock, which includes one hold, three buy, and two strong buy ratings.
• The average 1-year target price for Boralex among analysts is C$39.00, reflecting an optimistic outlook for the company's stock performance.
• Boralex recently announced a quarterly dividend of $0.165 per share, which contributes to an annualized dividend yield of 2.4%.

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

A number of equities research analysts have recently commented on BLX shares. TD Securities raised their target price on Boralex from C$35.00 to C$38.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. National Bankshares dropped their target price on Boralex from C$43.00 to C$41.00 and set an "outperform" rating on the stock in a research report on Monday, August 11th. Scotiabank dropped their target price on Boralex from C$36.00 to C$35.00 and set a "sector perform" rating on the stock in a research report on Monday, August 11th. Finally, Desjardins set a C$45.00 target price on Boralex and gave the company a "top pick" rating in a research report on Wednesday, June 18th.

Boralex Price Performance

Shares of BLX opened at C$27.75 on Monday. The business's 50-day moving average is C$28.49 and its two-hundred day moving average is C$30.00. The company has a market capitalization of C$2.85 billion, a P/E ratio of -308.33, a P/E/G ratio of 2.01 and a beta of 0.22. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. Boralex has a fifty-two week low of C$24.40 and a fifty-two week high of C$36.63.

Boralex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 15th were given a dividend of $0.165 per share. The ex-dividend date was Friday, August 29th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.4%. Boralex's dividend payout ratio (DPR) is -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.

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