Raymond James Lowers Boralex (TSE:BLX) Price Target to C$38.00

Boralex (TSE:BLX - Get Free Report) had its price objective cut by equities research analysts at Raymond James from C$40.00 to C$38.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Raymond James' target price points to a potential upside of 39.91% from the stock's current price.

Other research analysts have also recently issued reports about the company. Desjardins upped 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. BMO Capital Markets increased their target price on shares of Boralex to C$37.00 and gave the company an "outperform" rating in a research report on Monday, March 4th. Finally, CIBC reduced 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. One 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. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of C$40.25.

Boralex Stock Down 1.5 %

Shares of TSE:BLX traded down C$0.41 during trading on Thursday, hitting C$27.16. The company's stock had a trading volume of 280,981 shares, compared to its average volume of 241,124. Boralex has a fifty-two week low of C$25.40 and a fifty-two week high of C$41.50. The business has a 50 day moving average price of C$28.47 and a two-hundred day moving average price of C$29.97. The company has a debt-to-equity ratio of 179.25, a quick ratio of 1.54 and a current ratio of 1.08. The company has a market capitalization of C$2.79 billion, a PE ratio of 35.74, a P/E/G ratio of 0.94 and a beta of 0.41.

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

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.