Boralex (TSE:BLX) Share Price Passes Above 200-Day Moving Average - Time to Sell?

Boralex Inc. (TSE:BLX - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$32.71 and traded as high as C$33.70. Boralex shares last traded at C$33.47, with a volume of 195,964 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BLX shares. Cormark upped their price objective on shares of Boralex from C$45.00 to C$47.00 in a report on Thursday, August 15th. Cibc World Mkts raised shares of Boralex to a "strong-buy" rating in a report on Monday, July 22nd. CIBC increased their target price 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. Royal Bank of Canada increased their target price on shares of Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Finally, BMO Capital Markets increased their target price on shares of Boralex from C$39.00 to C$46.00 in a research note on Thursday, September 5th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$43.50.

Boralex Trading Down 0.1 %

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 has a market cap of C$3.43 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company's 50 day moving average price is C$34.20 and its 200 day moving average price is C$32.75.

Boralex (TSE:BLX - Get Free Report) last announced its earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.04 by C$0.06. The business had revenue of C$180.00 million for the quarter, compared to analyst estimates of C$211.65 million. Boralex had a net margin of 9.91% and a return on equity of 6.69%. As a group, analysts forecast that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.

Boralex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were given a $0.165 dividend. 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 1.97%. Boralex's dividend payout ratio (DPR) 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.