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

Boralex Inc. (TSE:BLX - Free Report) - Cormark issued their Q1 2024 earnings estimates for Boralex in a note issued to investors on Wednesday, May 1st. Cormark analyst N. Boychuk forecasts that the company will earn $0.66 per share for the quarter. The consensus estimate for Boralex's current full-year earnings is $1.06 per share.

Boralex (TSE:BLX - Get Free Report) last released its quarterly earnings data on Friday, March 1st. The company reported C$0.36 earnings per share 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 business had revenue of C$315.00 million during the quarter, compared to analysts' expectations of C$262.30 million.

Other analysts have also issued reports about the stock. Raymond James lowered their price objective on shares of Boralex from C$40.00 to C$38.00 and set an "outperform" rating for the company in a research note on Thursday, April 25th. CIBC decreased their price target on shares of 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 decreased their price target on shares of Boralex from C$44.00 to C$42.00 and set a "top pick" rating for the company in a research report on Tuesday. 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 report on Monday, March 4th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boralex currently has an average rating of "Buy" and an average price target of C$40.00.

Boralex Stock Up 0.7 %

TSE:BLX traded up C$0.20 during mid-day trading on Friday, reaching C$29.89. The company's stock had a trading volume of 368,467 shares, compared to its average volume of 241,364. Boralex has a 1 year low of C$25.40 and a 1 year high of C$39.99. The stock has a fifty day moving average of C$28.25 and a 200-day moving average of C$29.93. The firm has a market capitalization of C$3.07 billion, a PE ratio of 39.07, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. The company has a quick ratio of 1.54, a current ratio of 1.08 and a debt-to-equity ratio of 179.25.

Boralex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.165 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.66 annualized dividend and a dividend yield of 2.21%. Boralex's dividend payout ratio (DPR) is currently 86.84%.

Boralex Company Profile

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.