Boralex (TSE:BLX) PT Raised to C$39.00

Boralex (TSE:BLX - Get Free Report) had its price target raised by stock analysts at CIBC from C$38.00 to C$39.00 in a report released on Thursday, BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. CIBC's target price indicates a potential upside of 22.03% from the stock's previous close.

BLX has been the subject of a number of other research reports. BMO Capital Markets raised their price target on shares of Boralex to C$37.00 and gave the stock an "outperform" rating in a report on Monday, March 4th. Raymond James dropped 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 note on Thursday, April 25th. National Bankshares lifted their price objective on shares of Boralex from C$39.00 to C$41.00 in a research report on Thursday. Finally, Desjardins lowered their price target on Boralex from C$44.00 to C$42.00 and set a "top pick" rating on the stock in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of C$40.13.

Boralex Trading Up 1.8 %

Shares of Boralex stock traded up C$0.56 during trading on Thursday, reaching C$31.96. The company's stock had a trading volume of 385,740 shares, compared to its average volume of 246,860. The company has a market cap of C$3.28 billion, a price-to-earnings ratio of 42.05, a PEG 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. The firm's 50-day moving average is C$28.42 and its two-hundred day moving average is C$30.19. Boralex has a 52-week low of C$25.40 and a 52-week high of C$39.50.

Boralex (TSE:BLX - Get Free Report) last announced its quarterly earnings results 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 company had revenue of C$315.00 million during the quarter, compared to the consensus estimate of C$262.30 million. Boralex had a return on equity of 5.68% and a net margin of 7.63%. On average, sell-side analysts anticipate that Boralex will post 0.8788592 earnings per share for the current year.

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.