Boralex Inc. (TSE:BLX) Receives Average Recommendation of "Buy" from Analysts

Shares of Boralex Inc. (TSE:BLX - Get Free Report) have received a consensus rating of "Buy" from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$43.22.

Several research firms recently weighed in on BLX. Cormark boosted their price objective on Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th. CIBC upped 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. BMO Capital Markets raised their price target on shares of Boralex from C$39.00 to C$46.00 in a research report on Thursday, September 5th. Desjardins upped their price objective on shares of Boralex from C$44.00 to C$46.00 and gave the company a "top pick" rating in a research report on Friday, June 21st. Finally, Royal Bank of Canada lifted their target price on Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th.

Boralex Stock Performance

Shares of BLX stock traded up C$1.35 during trading on Wednesday, reaching C$36.27. The company had a trading volume of 283,648 shares, compared to its average volume of 258,442. Boralex has a one year low of C$25.40 and a one year 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. The firm's 50 day simple moving average is C$34.03 and its two-hundred day simple moving average is C$32.22. The company has a market capitalization of C$3.73 billion, a PE ratio of 39.00, a PEG ratio of 2.01 and a beta of 0.46.

Boralex (TSE:BLX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.04 by C$0.06. The business had revenue of C$180.00 million during the quarter, compared to the consensus estimate of C$211.65 million. Boralex had a net margin of 9.91% and a return on equity of 6.69%. Sell-side analysts forecast that Boralex will post 1.3383764 earnings per share for the current year.

Boralex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were given 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 1.82%. Boralex's payout ratio is 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.