Boralex (TSE:BLX) Shares Cross Above 200-Day Moving Average of $31.60

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$31.60 and traded as high as C$35.52. Boralex shares last traded at C$35.50, with a volume of 539,231 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on BLX shares. BMO Capital Markets raised their target price on Boralex from C$39.00 to C$46.00 in a report on Thursday, September 5th. Cormark raised their price objective on Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. Desjardins lifted their price objective on 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. Raymond James boosted their price objective on Boralex from C$38.00 to C$41.00 in a research note on Thursday, August 15th. Finally, National Bankshares raised their target price 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 assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boralex presently has an average rating of “Buy” and a consensus target price of C$43.22.

Boralex Price Performance

The firm has a 50-day moving average of C$33.52 and a 200-day moving average of C$31.60. The stock has a market cap of C$3.65 billion, a PE ratio of 38.17, a PEG ratio of 0.94 and a beta of 0.45. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54.

Boralex (TSE:BLX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share 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 return on equity of 6.69% and a net margin of 9.91%. Research analysts predict that Boralex Inc. will post 1.2283737 EPS for the current year.

Boralex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were paid a dividend of $0.165 per share. The ex-dividend date was Friday, August 30th. This represents a $0.66 annualized dividend and a yield of 1.86%. 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.