Desjardins Lowers Boralex (TSE:BLX) Price Target to C$42.00

Boralex (TSE:BLX - Get Free Report) had its target price lowered by Desjardins from C$44.00 to C$42.00 in a report released on Tuesday, BayStreet.CA reports. The brokerage currently has a "top pick" rating on the stock. Desjardins' target price suggests a potential upside of 52.01% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. CIBC lowered their target price on shares of 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. BMO Capital Markets upped their price objective on Boralex to C$37.00 and gave the company an "outperform" rating in a report on Monday, March 4th. Finally, 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 report on Thursday, April 25th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of C$40.00.

Boralex Stock Performance

BLX traded up C$0.21 on Tuesday, reaching C$27.63. The stock had a trading volume of 164,614 shares, compared to its average volume of 238,412. The business's 50-day moving average price is C$28.29 and its two-hundred day moving average price is C$29.94. The company has a current ratio of 1.08, a quick ratio of 1.54 and a debt-to-equity ratio of 179.25. Boralex has a 12-month low of C$25.40 and a 12-month high of C$39.99. The company has a market cap of C$2.84 billion, a P/E ratio of 36.36, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41.

Boralex (TSE:BLX - Get Free Report) last released its quarterly earnings results 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 analyst estimates of C$262.30 million. Sell-side analysts forecast that Boralex will post 1.0599765 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.