Boralex Inc., together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2021, the company had interests in 90 wind power stations with an installed capacity of 2,032 megawatts (MW); 16 hydroelectric power stations with a capacity of 181 MW; 12 solar power stations with an installed capacity of 244 MW; and one thermal power station with an installed capacity of 35 MW. It also operates two hydroelectric power stations on behalf of R.S.P. Énergie Inc. Boralex Inc. was incorporated in 1982 and is headquartered in Kingsey Falls, Canada.
Wall Street Analysts Forecast Growth
BLX has been the subject of several research analyst reports. CSFB downgraded shares of Boralex from an "outperform" rating to a "neutral" rating in a research report on Monday, July 11th. BMO Capital Markets upped their price target on shares of Boralex from C$45.00 to C$50.00 in a research report on Thursday. National Bankshares increased their target price on shares of Boralex from C$47.00 to C$50.00 and gave the stock an "outperform" rating in a research report on Thursday. Raymond James increased their target price on shares of Boralex from C$51.00 to C$52.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Credit Suisse Group downgraded shares of Boralex to a "hold" rating and set a C$46.00 target price for the company. in a research report on Monday, July 11th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$48.00.
Boralex Stock Up 0.7 %
Shares of BLX traded up C$0.37 during mid-day trading on Monday, hitting C$49.75. 211,616 shares of the company's stock were exchanged, compared to its average volume of 341,854. The firm has a fifty day moving average of C$43.22 and a two-hundred day moving average of C$39.42. Boralex has a twelve month low of C$30.04 and a twelve month high of C$50.07. The stock has a market cap of C$5.11 billion and a price-to-earnings ratio of 160.48. The company has a quick ratio of 0.97, a current ratio of 1.10 and a debt-to-equity ratio of 288.00.
Boralex (TSE:BLX - Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported C$0.10 EPS for the quarter, topping the consensus estimate of C$0.08 by C$0.02. The business had revenue of C$168.00 million for the quarter, compared to analyst estimates of C$176.80 million. On average, sell-side analysts forecast that Boralex will post 0.8798095 earnings per share for the current year.
Boralex Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 16th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.66 dividend on an annualized basis and a yield of 1.33%. Boralex's payout ratio is presently 212.90%.