Boralex (TSE:BLX) Reaches New 52-Week High - Time to Buy?

Key Points

• Boralex hit a new 52-week high of C$36.78 (last traded C$36.75) on Monday with volume of 2,844,881 shares.
• Analyst sentiment is mixed but tilted positive with a consensus rating of "Moderate Buy" and an average price target of C$38.46 (1 Strong Buy, 2 Buy, 1 Sell among recent reports).
• Fundamentals show a market cap of C$3.78B but a very high P/E of 612.5 and debt-to-equity of 323.15, indicating elevated valuation and leverage despite recent revenue and earnings.

Boralex Inc. (TSE:BLX - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as C$36.78 and last traded at C$36.75, with a volume of 2844881 shares. The stock had previously closed at C$36.60.

Wall Street Analysts Forecast Growth

BLX has been the topic of a number of research reports. Canadian Imperial Bank of Commerce dropped their price objective on shares of Boralex from C$37.00 to C$36.00 in a report on Wednesday, January 21st. Scotiabank dropped their price target on shares of Boralex from C$41.00 to C$39.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 21st. National Bank Financial set a C$39.00 price objective on shares of Boralex and gave the company an "outperform" rating in a research report on Tuesday, March 24th. Finally, TD Securities lowered Boralex from a "buy" rating to a "sell" rating and upped their price objective for the stock from C$32.00 to C$37.25 in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$38.46.

Boralex Trading Up 0.4%

The stock has a 50 day moving average of C$28.71 and a 200-day moving average of C$27.29. The company has a market capitalization of C$3.78 billion, a P/E ratio of 612.50, a P/E/G ratio of 2.01 and a beta of 0.04. The company has a current ratio of 1.29, a quick ratio of 1.54 and a debt-to-equity ratio of 323.15.

Boralex (TSE:BLX - Get Free Report) last released its earnings results on Friday, February 27th. The company reported C$0.13 EPS for the quarter. Boralex had a net margin of 0.84% and a return on equity of 0.45%. The company had revenue of C$258.00 million for the quarter. On average, research analysts predict that Boralex Inc. will post 1.3383764 EPS 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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