Boralex (TSE:BLX) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Boralex shares rose above their 200-day moving average, reaching C$37.13 and closing near C$37.09, compared with a 200-day average of C$33.49.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a consensus “Moderate Buy” rating and a C$38.39 target price, while recent firms moved to “sector perform” and “market perform” ratings.
• Boralex reported a quarterly loss of C$0.08 per share and negative net margins, but continues to pay a quarterly dividend of C$0.165, equivalent to a 1.8% annual yield.

Boralex Inc. (TSE:BLX - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$33.49 and traded as high as C$37.13. Boralex shares last traded at C$37.09, with a volume of 341,419 shares trading hands.

Analysts Set New Price Targets

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

Boralex Price Performance

The company has a debt-to-equity ratio of 309.98, a current ratio of 1.24 and a quick ratio of 1.53. The company has a 50 day moving average price of C$36.96 and a 200 day moving average price of C$33.49. The firm has a market cap of C$3.81 billion, a PE ratio of -119.65, a PEG ratio of 2.01 and a beta of 0.20.

Boralex (TSE:BLX - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported C($0.08) earnings per share 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%. Sell-side analysts expect that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.

Boralex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were issued 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 presently -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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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