Boralex Inc. Expected to Post Q3 2024 Earnings of ($0.18) Per Share (TSE:BLX)

Boralex Inc. (TSE:BLX - Free Report) - Equities researchers at National Bank Financial decreased their Q3 2024 earnings per share estimates for shares of Boralex in a research note issued to investors on Wednesday, October 9th. National Bank Financial analyst R. Merer now expects that the company will post earnings of ($0.18) per share for the quarter, down from their previous estimate of ($0.15). The consensus estimate for Boralex's current full-year earnings is $1.21 per share. National Bank Financial also issued estimates for Boralex's FY2024 earnings at $1.02 EPS and FY2025 earnings at $1.04 EPS.

Other research analysts have also recently issued research reports about the company. Desjardins lifted their price objective on Boralex from C$44.00 to C$46.00 and gave the company a "top pick" rating in a research note on Friday, June 21st. Cormark lifted their price target on Boralex from C$45.00 to C$47.00 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. Raymond James lifted their target price on shares of Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. Finally, BMO Capital Markets increased their price target on shares of Boralex from C$39.00 to C$46.00 in a report on Thursday, September 5th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of C$43.22.

Boralex Stock Down 1.3 %

Shares of TSE BLX traded down C$0.44 on Monday, reaching C$34.52. 369,981 shares of the company's stock traded hands, compared to its average volume of 258,475. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24. The business's 50 day simple moving average is C$33.97 and its two-hundred day simple moving average is C$32.16. Boralex has a 12 month low of C$25.40 and a 12 month high of C$36.68. The company has a market cap of C$3.55 billion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 0.94 and a beta of 0.45.

Boralex (TSE:BLX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$0.04 by C$0.06. Boralex had a net margin of 9.91% and a return on equity of 6.69%. The company had revenue of C$180.00 million during the quarter, compared to analysts' expectations of C$211.65 million.

Boralex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were paid 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 yield of 1.91%. Boralex's dividend payout ratio is presently 70.97%.

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.