Boralex (TSE:BLX) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Boralex shares rose above their 200-day moving average on Thursday, trading as high as C$37.07 and last changing hands at C$37.00. The 200-day moving average was C$32.06.
• Wall Street sentiment is mixed but leans constructive, with a consensus “Moderate Buy” and an average target price of C$38.39. However, recent analyst actions included both downgrades and a range of target prices around the high C$30s.
• The company reported weak recent fundamentals, including a quarterly EPS loss of C($0.08), negative net margin, and negative return on equity. Boralex also paid a quarterly dividend of C$0.165 per share, equivalent to a 1.8% annualized yield.

Boralex Inc. (TSE:BLX - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$32.06 and traded as high as C$37.07. Boralex shares last traded at C$37.00, with a volume of 271,376 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Raymond James Financial lowered shares of Boralex from an "outperform" rating to a "market perform" rating and reduced their price target for the company from C$38.00 to C$37.25 in a research report on Friday, May 15th. TD Securities downgraded Boralex from a "buy" rating to a "sell" rating and increased their price objective for the stock from C$32.00 to C$37.25 in a research report on Thursday, March 26th. Royal Bank Of Canada boosted their target price on Boralex from C$33.00 to C$37.25 and gave the stock a "sector perform" rating in a research report on Tuesday, May 12th. Finally, National Bank Financial set a C$39.00 target price on Boralex and gave the stock an "outperform" rating in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$38.39.

Boralex Stock Performance

The company has a market cap of C$3.80 billion, a P/E ratio of -119.35, a price-to-earnings-growth ratio of 2.01 and a beta of 0.20. The company's fifty day moving average is C$36.88 and its 200 day moving average is C$32.06. The company has a current ratio of 1.24, a quick ratio of 1.53 and a debt-to-equity ratio of 309.98.

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

Boralex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were issued a dividend of $0.165 per share. The ex-dividend date was Friday, May 29th. This represents a $0.66 annualized dividend and a yield of 1.8%. Boralex's dividend payout ratio is currently -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.

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