Boralex Inc. (TSE:BLX) Receives Average Recommendation of “Buy” from Brokerages

Shares of Boralex Inc. (TSE:BLX) have been given a consensus rating of “Buy” by the nine brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$42.44.

BLX has been the subject of a number of research reports. Desjardins boosted their price target on Boralex from C$44.00 to C$46.00 and gave the company a “top pick” rating in a report on Friday, June 21st. Raymond James upped their target price on Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. Scotiabank raised their price target on Boralex from C$38.00 to C$42.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. National Bankshares upped their price objective on shares of Boralex from C$43.00 to C$46.00 in a research note on Monday, July 8th. Finally, Cormark increased their target price on shares of Boralex from C$45.00 to C$47.00 in a report on Thursday, August 15th.

Boralex Trading Up 1.0 %

Shares of BLX opened at C$32.87 on Tuesday. The company has a debt-to-equity ratio of 174.81, a current ratio of 0.95 and a quick ratio of 1.54. The firm has a market capitalization of C$3.38 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 0.94 and a beta of 0.41. The company has a 50-day moving average of C$33.76 and a 200 day moving average of C$31.32. Boralex has a 1-year low of C$25.40 and a 1-year high of C$36.68.

Boralex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.66 annualized dividend and a yield of 2.01%. Boralex’s dividend payout ratio (DPR) is presently 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.