Cormark Has Pessimistic Outlook of Boralex FY2024 Earnings

Boralex Inc. (TSE:BLX - Free Report) - Investment analysts at Cormark cut their FY2024 earnings per share (EPS) estimates for Boralex in a report issued on Monday, October 21st. Cormark analyst N. Boychuk now forecasts that the company will post earnings per share of $1.32 for the year, down from their prior forecast of $1.38. The consensus estimate for Boralex's current full-year earnings is $1.34 per share. Cormark also issued estimates for Boralex's FY2025 earnings at $1.53 EPS.

Other research analysts have also recently issued research reports about the stock. Cibc World Mkts upgraded shares of Boralex to a "strong-buy" rating in a research note on Monday, July 22nd. CIBC lifted their target price on shares of Boralex from C$41.00 to C$42.00 and gave the company an "outperform" rating in a research note on Monday, July 22nd. Royal Bank of Canada boosted their price objective on shares of Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th. Raymond James boosted their price objective on shares of Boralex from C$38.00 to C$41.00 in a research report on Thursday, August 15th. Finally, BMO Capital Markets boosted their price objective on shares of Boralex from C$39.00 to C$46.00 in a research report on Thursday, September 5th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of C$43.50.

Boralex Price Performance

Shares of TSE:BLX traded down C$0.79 during trading on Thursday, reaching C$35.03. The stock had a trading volume of 283,176 shares, compared to its average volume of 257,882. Boralex has a 52 week low of C$25.49 and a 52 week high of C$36.68. The business's 50-day moving average price is C$34.25 and its 200 day moving average price is C$32.50. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54. The stock has a market capitalization of C$3.60 billion, a PE ratio of 38.52, a P/E/G ratio of 2.01 and a beta of 0.46.

Boralex (TSE:BLX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The company reported C$0.10 EPS for the quarter, topping 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 firm had revenue of C$180.00 million during the quarter, compared to analysts' expectations of C$211.65 million.

Boralex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Friday, August 30th. Boralex's dividend payout ratio is presently 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.