Analysts Set Boralex Inc. (TSE:BLX) Price Target at C$43.50

Boralex Inc. (TSE:BLX - Get Free Report) has been assigned an average recommendation of "Buy" from the seven research firms that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is C$43.50.

A number of equities research analysts have issued reports on BLX shares. Cormark boosted their target price on shares of Boralex from C$45.00 to C$47.00 in a report on Thursday, August 15th. Raymond James increased their price target on shares of Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. Royal Bank of Canada upped their target price on shares of Boralex from C$36.00 to C$38.00 in a report on Thursday, August 15th. CIBC upped their price target on shares of Boralex from C$41.00 to C$42.00 and gave the stock an "outperform" rating in a report on Monday, July 22nd. Finally, BMO Capital Markets boosted their target price on Boralex from C$39.00 to C$46.00 in a research report on Thursday, September 5th.

Boralex Stock Performance

BLX traded down C$0.04 during trading on Friday, hitting C$33.22. 313,200 shares of the company traded hands, compared to its average volume of 258,243. The firm has a market cap of C$3.41 billion, a P/E ratio of 35.72, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24. Boralex has a one year low of C$26.25 and a one year high of C$36.68. The stock's fifty day moving average is C$34.18 and its 200 day moving average is C$32.96.

Boralex (TSE:BLX - Get Free Report) last issued its earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.04 by C$0.06. Boralex had a return on equity of 6.69% and a net margin of 9.91%. The firm had revenue of C$180.00 million for the quarter, compared to analyst estimates of C$211.65 million. As a group, equities analysts predict that Boralex will post 1.3383764 EPS for the current fiscal year.

Boralex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.99%. Boralex's dividend payout ratio is 70.97%.

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.