Q1 2024 EPS Estimates for Boralex Inc. Decreased by Analyst (TSE:BLX)

Boralex Inc. (TSE:BLX - Free Report) - Equities research analysts at Raymond James cut their Q1 2024 earnings per share estimates for shares of Boralex in a research report issued to clients and investors on Thursday, April 25th. Raymond James analyst D. Quezada now anticipates that the company will post earnings of $0.42 per share for the quarter, down from their previous forecast of $0.57. Raymond James has a "Outperform" rating and a $38.00 price objective on the stock. The consensus estimate for Boralex's current full-year earnings is $1.06 per share. Raymond James also issued estimates for Boralex's Q3 2024 earnings at ($0.10) EPS, FY2024 earnings at $0.88 EPS and FY2025 earnings at $0.90 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). Boralex had a return on equity of 5.68% and a net margin of 7.63%. The company had revenue of C$315.00 million for the quarter, compared to analyst estimates of C$262.30 million.

A number of other equities analysts also recently commented on the company. 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, April 19th. Desjardins increased their price target on shares of Boralex from C$43.00 to C$44.00 and gave the company a "top pick" rating in a research note on Monday, January 29th. Finally, BMO Capital Markets increased their price target on shares of Boralex to C$37.00 and gave the company an "outperform" rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$40.25.

Boralex Stock Up 0.4 %

Shares of Boralex stock traded up C$0.11 on Monday, reaching C$27.42. 159,971 shares of the company were exchanged, compared to its average volume of 239,288. Boralex has a 1-year low of C$25.40 and a 1-year high of C$39.99. The company has a market cap of C$2.82 billion, a P/E ratio of 36.08, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. The company has a debt-to-equity ratio of 179.25, a current ratio of 1.08 and a quick ratio of 1.54. The stock's 50 day moving average price is C$28.29 and its 200-day moving average price is C$29.94.

Boralex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Wednesday, February 28th. Boralex's payout ratio is currently 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.