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

Key Points

• Boralex shares moved above their 200-day moving average, trading as high as C$37.09 and last changing hands at C$37.03, up modestly on the day.
• Analyst sentiment is mixed but leans positive: recent cuts from Raymond James and TD Securities were offset by bullish or neutral views elsewhere, and MarketBeat shows a consensus rating of “Moderate Buy” with a C$38.39 price target.
• The company reported weak recent profitability, posting a quarterly loss of C$0.08 per share on C$286 million in revenue, while also paying a quarterly dividend that annualizes to C$0.66 for a 1.8% yield.

Boralex Inc. (TSE:BLX - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$32.50 and traded as high as C$37.09. Boralex shares last traded at C$37.03, with a volume of 765,387 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on BLX shares. Raymond James Financial downgraded 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. TD Securities cut shares of Boralex from a "buy" rating to a "sell" rating and raised their target price for the company from C$32.00 to C$37.25 in a report on Thursday, March 26th. National Bank Financial set a C$39.00 price target on shares of Boralex and gave the stock an "outperform" rating in a research note on Tuesday, March 24th. Finally, Royal Bank Of Canada boosted their price target on shares of Boralex from C$33.00 to C$37.25 and gave the stock a "sector perform" rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$38.39.

Boralex Trading Up 0.1%

The firm has a market cap of C$3.81 billion, a PE ratio of -119.45, a P/E/G ratio of 2.01 and a beta of 0.20. The company has a current ratio of 1.24, a quick ratio of 1.53 and a debt-to-equity ratio of 309.98. The business has a fifty day moving average price of C$36.91 and a 200 day moving average price of C$32.50.

Boralex (TSE:BLX - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported C($0.08) earnings per share for the quarter. The business had revenue of C$286.00 million for the quarter. Boralex had a negative return on equity of 2.08% and a negative net margin of 3.56%. Analysts forecast that Boralex Inc. will post 1.3383764 EPS for the current year.

Boralex Dividend Announcement

The business 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 was Friday, May 29th. This represents a $0.66 annualized dividend and a dividend yield of 1.8%. Boralex's dividend payout ratio is presently -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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