Boralex (TSE:BLX) Shares Pass Above 200-Day Moving Average - Here's What Happened

Boralex Inc. (TSE:BLX - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$32.07 and traded as high as C$35.42. Boralex shares last traded at C$35.07, with a volume of 250,131 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Boralex from C$39.00 to C$46.00 in a research note on Thursday, September 5th. CIBC boosted their price objective on shares of Boralex from C$41.00 to C$42.00 and gave the stock an "outperform" rating in a research note on Monday, July 22nd. Cormark boosted their price objective on shares of Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. Scotiabank boosted their price objective on shares of Boralex from C$38.00 to C$42.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 12th. Finally, National Bankshares boosted their price objective on shares of Boralex from C$43.00 to C$46.00 in a research note on Monday, July 8th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of C$43.22.

Boralex Stock Up 0.1 %

The firm has a market cap of C$3.61 billion, a PE ratio of 37.74, a P/E/G ratio of 0.94 and a beta of 0.45. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. The business's 50-day simple moving average is C$33.92 and its 200 day simple moving average is C$32.12.

Boralex (TSE:BLX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The company reported C$0.10 EPS for the quarter, beating 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 analysts' expectations of C$211.65 million. Boralex had a net margin of 9.91% and a return on equity of 6.69%. As a group, equities research analysts expect that Boralex Inc. will post 1.2093023 earnings per share for the current year.

Boralex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders 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 dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, August 30th. Boralex's 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.