Boralex (TSE:BLX) Trading 8.7% Higher - What's Next?

Key Points

• Shares jumped 8.7% intraday to C$33.50 (last C$33.38) from a C$30.70 close, with about 346,327 shares traded—roughly 33% below the average daily volume.
• Analysts still show a consensus Buy rating with an average price target of C$38.86, despite recent target cuts by CIBC (to C$36) and Scotiabank (to C$39); broker sentiment includes one Strong Buy and three Buy ratings.
• Fundamentals point to high leverage and stretched valuation—debt-to-equity is about 323.15, trailing PE near 554, while recent quarterly EPS was C$0.13 with a net margin of 0.84% and ROE of 0.45%.

Shares of Boralex Inc. (TSE:BLX - Get Free Report) rose 8.7% during mid-day trading on Tuesday . The company traded as high as C$33.50 and last traded at C$33.38. Approximately 346,327 shares changed hands during trading, a decline of 33% from the average daily volume of 517,257 shares. The stock had previously closed at C$30.70.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BLX. Canadian Imperial Bank of Commerce dropped their target price on Boralex from C$37.00 to C$36.00 in a research note on Wednesday, January 21st. Scotiabank dropped 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. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat, Boralex has a consensus rating of "Buy" and an average price target of C$38.86.

Boralex Trading Up 8.3%

The stock's fifty day simple moving average is C$26.94 and its 200-day simple moving average is C$26.74. 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 firm has a market cap of C$3.42 billion, a PE ratio of 554.00, a PEG ratio of 2.01 and a beta of 0.73.

Boralex (TSE:BLX - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The company reported C$0.13 earnings per share for the quarter. Boralex had a net margin of 0.84% and a return on equity of 0.45%. The firm had revenue of C$258.00 million for the quarter. On average, sell-side analysts forecast that Boralex Inc. will post 1.3383764 earnings per share for the current 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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