Cormark Brokers Decrease Earnings Estimates for Boralex

Boralex Inc. (TSE:BLX - Free Report) - Analysts at Cormark dropped their FY2024 EPS estimates for Boralex in a research report issued to clients and investors on Friday, November 15th. Cormark analyst N. Boychuk now forecasts that the company will post earnings per share of $1.31 for the year, down from their prior estimate of $1.32. The consensus estimate for Boralex's current full-year earnings is $1.34 per share.

A number of other brokerages have also recently weighed in on BLX. Royal Bank of Canada lifted their price target on shares of Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th. Cibc World Mkts raised shares of Boralex to a "strong-buy" rating in a research report on Monday, July 22nd. BMO Capital Markets dropped their price objective on shares of Boralex from C$46.00 to C$45.00 in a report on Friday. CIBC dropped their price objective on shares of Boralex from C$43.00 to C$42.00 in a report on Friday. Finally, Raymond James raised their price objective on shares of Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$43.38.

Boralex Trading Down 4.2 %

Shares of TSE BLX traded down C$1.35 during midday trading on Monday, reaching C$30.45. 415,822 shares of the stock were exchanged, compared to its average volume of 259,319. The business has a 50-day simple moving average of C$34.12 and a two-hundred day simple moving average of C$33.21. The company has a market capitalization of C$3.13 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 2.01 and a beta of 0.46. Boralex has a 12 month low of C$26.25 and a 12 month high of C$36.68. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54.

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.