Boralex (TSE:BLX) Sets New 12-Month High - Still a Buy?

Key Points

• Boralex hit a new 52-week high — shares traded as high as C$33.88 (last C$33.00) on heavy volume, and analysts hold a consensus "Buy" with a C$38.57 average target (individual targets C$36–C$39).
• Financial strengths and risks — the company has a C$3.39B market cap and steady revenue, but carries very high leverage (debt-to-equity 323.15) and a stretched valuation (P/E ~550) with low net margin (0.84%) and ROE (0.45%).

Boralex Inc. (TSE:BLX - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as C$33.88 and last traded at C$33.00, with a volume of 1521693 shares traded. The stock had previously closed at C$30.70.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BLX shares. Canadian Imperial Bank of Commerce dropped their target price on Boralex from C$37.00 to C$36.00 in a research report on Wednesday, January 21st. National Bank Financial set a C$39.00 price target on shares of Boralex and gave the company an "outperform" rating in a report on Tuesday. Finally, Scotiabank lowered their price target on shares of Boralex from C$41.00 to C$39.00 and set an "outperform" rating for the company in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of C$38.57.

Boralex Stock Performance

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 company has a 50-day moving average price of C$27.06 and a 200-day moving average price of C$26.77. The firm has a market capitalization of C$3.39 billion, a price-to-earnings ratio of 550.00, a P/E/G ratio of 2.01 and a beta of 0.73.

Boralex (TSE:BLX - Get Free Report) last posted its earnings results on Friday, February 27th. The company reported C$0.13 EPS for the quarter. The firm had revenue of C$258.00 million for the quarter. Boralex had a return on equity of 0.45% and a net margin of 0.84%. As a group, equities research analysts forecast 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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