Boralex (TSE:BLX) Sets New 52-Week High - Should You Buy?

Key Points

• 52-week high: Boralex shares reached a new 52-week high of C$36.88 (last C$36.85) on Friday with about 92,600 shares traded, a small uptick from the prior close.
• Analyst view: The stock has a consensus rating of Moderate Buy with an average target of C$38.46, though analysts are mixed (1 Strong Buy, 2 Buy, 1 Sell) and price targets range roughly C$36–C$41.
• Fundamentals/risk: Boralex shows very high leverage (debt-to-equity 323.15) and an extremely high P/E (614.17) with weak profitability (ROE 0.45%, net margin 0.84%) despite C$258M quarterly revenue and a C$3.79B market cap.

Boralex Inc. (TSE:BLX - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The company traded as high as C$36.88 and last traded at C$36.85, with a volume of 92600 shares. The stock had previously closed at C$36.76.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BLX. Canadian Imperial Bank of Commerce dropped their price objective on Boralex from C$37.00 to C$36.00 in a research note on Wednesday, January 21st. National Bank Financial set a C$39.00 price objective on Boralex and gave the stock an "outperform" rating in a research note on Tuesday, March 24th. Scotiabank lowered their price target on 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. Finally, TD Securities lowered Boralex from a "buy" rating to a "sell" rating and boosted their price target for the company 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 given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$38.46.

Boralex Stock Up 0.2%

The company has a debt-to-equity ratio of 323.15, a current ratio of 1.29 and a quick ratio of 1.54. The stock has a market capitalization of C$3.79 billion, a P/E ratio of 614.17, a price-to-earnings-growth ratio of 2.01 and a beta of 0.04. The firm has a 50 day moving average of C$32.64 and a 200-day moving average of C$28.50.

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

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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