Equities Analysts Issue Forecasts for Boralex Inc.'s Q1 2024 Earnings (TSE:BLX)

Boralex Inc. (TSE:BLX - Free Report) - Equities research analysts at National Bank Financial cut their Q1 2024 earnings per share estimates for Boralex in a research report issued to clients and investors on Wednesday, April 17th. National Bank Financial analyst R. Merer now expects that the company will post earnings of $0.37 per share for the quarter, down from their prior forecast of $0.46. The consensus estimate for Boralex's current full-year earnings is $1.06 per share. National Bank Financial also issued estimates for Boralex's Q2 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.51 EPS and FY2025 earnings at $0.73 EPS.

Boralex (TSE:BLX - Get Free Report) last announced its quarterly earnings data on Friday, March 1st. The company reported C$0.36 EPS for the quarter, missing analysts' consensus estimates of C$0.51 by C($0.15). The firm had revenue of C$315.00 million during the quarter, compared to analyst estimates of C$262.30 million. Boralex had a return on equity of 5.68% and a net margin of 7.63%.

A number of other brokerages have also commented on BLX. CIBC lowered their price objective on Boralex from C$40.00 to C$38.00 and set an "outperform" rating for the company in a research report on Friday. Desjardins lifted their price objective on Boralex from C$43.00 to C$44.00 and gave the stock a "top pick" rating in a research report on Monday, January 29th. Finally, BMO Capital Markets boosted their target price on Boralex to C$37.00 and gave the stock an "outperform" rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Boralex currently has a consensus rating of "Buy" and a consensus price target of C$40.50.

Boralex Trading Down 1.2 %

BLX stock traded down C$0.32 during midday trading on Friday, reaching C$26.76. The stock had a trading volume of 300,853 shares, compared to its average volume of 243,396. The business has a fifty day simple moving average of C$28.67 and a two-hundred day simple moving average of C$29.99. The company has a quick ratio of 1.54, a current ratio of 1.08 and a debt-to-equity ratio of 179.25. The firm has a market cap of C$2.75 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 0.94 and a beta of 0.41. Boralex has a twelve month low of C$25.40 and a twelve month high of C$41.56.

Boralex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.165 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.66 annualized dividend and a dividend yield of 2.47%. Boralex's dividend payout ratio is presently 86.84%.

About Boralex

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.