Boralex (TSE:BLX) Hits New 12-Month High - Here's What Happened

Key Points

• Boralex reached a new 52-week high — shares traded as high as C$36.82 on Monday (last C$36.80) with ~325,465 shares changing hands, slightly above the prior close of C$36.72.
• Analyst views are mixed but tilted positive — the consensus rating is "Moderate Buy" with an average price target of C$38.46, amid recent notes including TD's downgrade to Sell (target C$37.25) and National Bank's Outperform with a C$39 target.
• Underlying fundamentals show low profitability and heavy leverage — the company reported Q EPS of C$0.13 and C$258M revenue, while sporting a very high P/E of 612.67 and a debt-to-equity ratio of 323.15, indicating thin margins and significant debt.

Boralex Inc. (TSE:BLX - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$36.82 and last traded at C$36.80, with a volume of 325465 shares trading hands. The stock had previously closed at C$36.72.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. TD Securities downgraded Boralex from a "buy" rating to a "sell" rating and upped their target price 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 price target on Boralex and gave the stock an "outperform" rating in a research report on Tuesday, March 24th. Canadian Imperial Bank of Commerce reduced their price target on Boralex from C$37.00 to C$36.00 in a research report on Wednesday, January 21st. Finally, Scotiabank reduced their price target on Boralex from C$41.00 to C$39.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$38.46.

Boralex Stock Up 0.1%

The firm has a 50 day simple moving average of C$29.83 and a two-hundred day simple moving average of C$27.62. The company has a quick ratio of 1.54, a current ratio of 1.29 and a debt-to-equity ratio of 323.15. The stock has a market capitalization of C$3.78 billion, a P/E ratio of 612.67, a PEG ratio of 2.01 and a beta of 0.04.

Boralex (TSE:BLX - Get Free Report) last released its earnings results on Friday, February 27th. The company reported C$0.13 earnings per share 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 during the quarter. On average, equities research analysts expect that Boralex Inc. will post 1.3383764 earnings per share for the current year.

About Boralex

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.

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