Boralex (TSE:BLX) Stock Crosses Above 200-Day Moving Average of $31.09

Shares of Boralex Inc. (TSE:BLX) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$31.09 and traded as high as C$34.43. Boralex shares last traded at C$33.51, with a volume of 257,154 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. CIBC lifted their target price on Boralex from C$39.00 to C$41.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. National Bankshares boosted their price objective on shares of Boralex from C$41.00 to C$43.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 28th. Desjardins raised their target price 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. BMO Capital Markets boosted their price target on shares of Boralex to C$37.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Finally, Scotiabank increased 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. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$41.22.

Boralex Stock Performance

The company has a market capitalization of C$3.44 billion, a P/E ratio of 34.19, a PEG ratio of 0.94 and a beta of 0.41. The stock’s fifty day moving average price is C$32.02 and its 200-day moving average price is C$31.09. The company has a debt-to-equity ratio of 172.42, a quick ratio of 1.54 and a current ratio of 1.16.

Boralex (TSE:BLX) last issued its earnings results on Wednesday, May 15th. The company reported C$0.53 EPS for the quarter, topping the consensus estimate of C$0.48 by C$0.05. The company had revenue of C$291.00 million during the quarter, compared to the consensus estimate of C$296.40 million. Boralex had a return on equity of 6.87% and a net margin of 10.14%. As a group, research analysts anticipate that Boralex Inc. will post 1.0561014 EPS for the current fiscal year.

Boralex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a $0.165 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.66 annualized dividend and a dividend yield of 1.97%. Boralex’s dividend payout ratio is currently 67.35%.

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.