Boralex (TSE:BLX) Reaches New 12-Month High - Should You Buy?

Key Points

• Boralex shares reached a new 52-week high of C$37.22, near the C$37.25 target prices recently set by Raymond James and RBC. Analysts collectively rate the stock “Moderate Buy,” with a consensus target of C$38.39.
• The company reported a quarterly loss of C$0.08 per share on C$286 million in revenue, alongside negative return on equity and net margin. Analysts expect full-year earnings of approximately C$1.34 per share.
• Boralex maintains a quarterly dividend of C$0.165, equivalent to C$0.66 annually and a 1.8% yield, while operating renewable energy facilities powered mainly by wind and hydroelectric sources.

Boralex Inc. (TSE:BLX - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as C$37.22 and last traded at C$37.21, with a volume of 23488 shares. The stock had previously closed at C$37.06.

Analyst Upgrades and Downgrades

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

Boralex Price Performance

The company's 50-day moving average price is C$36.97 and its 200-day moving average price is C$33.64. 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 current ratio of 1.24 and a quick ratio of 1.53.

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

Boralex Dividend Announcement

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

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. 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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