Boralex (TSE:BLX) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Boralex shares crossed above their 200-day moving average (C$28.02), trading as high as C$36.79 and last at C$36.66 on volume of 586,275 shares.
• Analysts show mixed but generally positive sentiment with a consensus "Moderate Buy" and a consensus target of C$38.46, including several recent "Outperform"/Buy targets and one Sell.
• Underlying fundamentals show elevated risk: a debt-to-equity of 323.15, an extremely high P/E of 611 and a thin net margin of 0.84%, despite a market cap of C$3.77 billion.

Shares of Boralex Inc. (TSE:BLX - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$28.02 and traded as high as C$36.79. Boralex shares last traded at C$36.66, with a volume of 586,275 shares trading hands.

Analysts Set New Price Targets

BLX has been the topic of several recent analyst reports. National Bank Financial set a C$39.00 price objective on shares of Boralex and gave the company an "outperform" rating in a research report on Tuesday, March 24th. Canadian Imperial Bank of Commerce decreased their price objective on shares of Boralex from C$37.00 to C$36.00 in a research report on Wednesday, January 21st. Scotiabank decreased their price objective on shares of Boralex from C$41.00 to C$39.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 21st. Finally, TD Securities downgraded shares of Boralex from a "buy" rating to a "sell" rating and raised their price objective for the company from C$32.00 to C$37.25 in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$38.46.

Boralex Stock Performance

The company has a debt-to-equity ratio of 323.15, a quick ratio of 1.54 and a current ratio of 1.29. The company has a market capitalization of C$3.77 billion, a P/E ratio of 611.00, a P/E/G ratio of 2.01 and a beta of 0.04. The business's fifty day simple moving average is C$31.08 and its 200-day simple moving average is C$28.02.

Boralex (TSE:BLX - Get Free Report) last announced its quarterly earnings results on Friday, February 27th. The company reported C$0.13 earnings per share (EPS) for the quarter. The company had revenue of C$258.00 million for the quarter. Boralex had a net margin of 0.84% and a return on equity of 0.45%. As a group, equities analysts anticipate that Boralex Inc. will post 1.3383764 earnings per share for the current fiscal 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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