Boralex (TSE:BLX) Hits New 12-Month High - What's Next?

Key Points

• Boralex shares reached a new 52-week high of C$37.24, with the stock trading near C$37.21 and above its 50-day and 200-day moving averages.
• Analyst sentiment remains cautiously positive: the stock has a consensus rating of “Moderate Buy” and an average price target of C$38.39, although some analysts recently downgraded their ratings to “market perform.”
• Boralex reported a quarterly loss of C$0.08 per share on C$286 million in revenue and maintains a quarterly dividend of C$0.165, equivalent to a 1.8% yield; profitability metrics remain negative and leverage is high.

Boralex Inc. (TSE:BLX - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as C$37.24 and last traded at C$37.21, with a volume of 30469 shares. The stock had previously closed at C$37.23.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BLX shares. Royal Bank Of Canada upped their target price on Boralex from C$33.00 to C$37.25 and gave the company a "sector perform" rating in a report on Tuesday, May 12th. Raymond James Financial lowered Boralex from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from C$38.00 to C$37.25 in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$38.39.

Boralex Price Performance

The firm has a 50 day moving average price of C$36.99 and a two-hundred day moving average price of C$33.94. The company has a market cap of C$3.82 billion, a P/E ratio of -120.06, a P/E/G ratio of 2.01 and a beta of 0.22. The company has a debt-to-equity ratio of 309.98, a quick ratio of 1.53 and a current ratio of 1.24.

Boralex (TSE:BLX - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported C($0.08) earnings per share (EPS) for the quarter. The firm had revenue of C$286.00 million during the quarter. Boralex had a negative net margin of 3.56% and a negative return on equity of 2.08%. On average, analysts predict that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.

Boralex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were given a $0.165 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.66 annualized dividend and a dividend yield of 1.8%. Boralex's payout ratio is -212.90%.

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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