Boralex (BLX) to Release Quarterly Earnings on Thursday

Boralex (TSE:BLX) will announce its earnings results before the market opens on Thursday, November 14th. Analysts expect the company to announce earnings of C($0.16) per share for the quarter.

Boralex (TSE:BLX) last released its earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, beating the consensus estimate of C$0.04 by C$0.06. The company 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%.

Boralex Stock Down 0.7 %

Shares of BLX opened at C$32.98 on Tuesday. The company’s 50-day simple moving average is C$34.19 and its 200-day simple moving average is C$33.03. The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95. Boralex has a 1 year low of C$26.25 and a 1 year high of C$36.68. The stock has a market capitalization of C$3.39 billion, a PE ratio of 35.46, a P/E/G ratio of 2.01 and a beta of 0.46.

Boralex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were issued a dividend of $0.165 per share. 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 2.00%. Boralex’s dividend payout ratio (DPR) is presently 70.97%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BLX. BMO Capital Markets upped their price objective on Boralex from C$39.00 to C$46.00 in a research report on Thursday, September 5th. Cibc World Mkts upgraded Boralex to a “strong-buy” rating in a report on Monday, July 22nd. Raymond James lifted their price objective on Boralex from C$38.00 to C$41.00 in a research note on Thursday, August 15th. Cormark upped their target price on shares of Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. Finally, Royal Bank of Canada lifted their price target on shares of Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$43.50.

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.