Brokerages Set Boralex Inc. (TSE:BLX) Target Price at C$40.50

Boralex Inc. (TSE:BLX - Get Free Report) has been given a consensus rating of "Buy" by the eight brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$40.50.

Several brokerages have issued reports on BLX. CIBC lowered their target price on Boralex from C$40.00 to C$38.00 and set an "outperform" rating on the stock in a research note on Friday, April 19th. Desjardins boosted their price objective on 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 boosted their price objective on Boralex to C$37.00 and gave the company an "outperform" rating in a research note on Monday, March 4th.

Boralex Price Performance

Shares of BLX remained flat at C$27.57 during mid-day trading on Wednesday. The company's stock had a trading volume of 142,841 shares, compared to its average volume of 240,613. The company has a market capitalization of C$2.83 billion, a price-to-earnings ratio of 36.28, a P/E/G ratio of 0.94 and a beta of 0.41. The stock's 50 day moving average price is C$28.53 and its two-hundred day moving average price is C$29.99. The company has a debt-to-equity ratio of 179.25, a quick ratio of 1.54 and a current ratio of 1.08. Boralex has a 52-week low of C$25.40 and a 52-week high of C$41.56.

Boralex (TSE:BLX - Get Free Report) last issued its earnings results on Friday, March 1st. The company reported C$0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.51 by C($0.15). The firm had revenue of C$315.00 million during the quarter, compared to the consensus estimate of C$262.30 million. Boralex had a net margin of 7.63% and a return on equity of 5.68%. As a group, research analysts expect that Boralex will post 1.0599765 earnings per share for the current fiscal year.

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 dividend on an annualized basis and a dividend yield of 2.39%. 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.