Brokerages Set Boralex Inc. (TSE:BLX) Target Price at C$43.22

Boralex Inc. (TSE:BLX) has earned a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$43.22.

Several equities research analysts recently commented on BLX shares. Cormark increased their price target on Boralex from C$45.00 to C$47.00 in a report on Thursday, August 15th. Desjardins increased their price objective on Boralex from C$44.00 to C$46.00 and gave the stock a “top pick” rating in a research report on Friday, June 21st. Raymond James increased their price objective on Boralex from C$38.00 to C$41.00 in a research report on Thursday, August 15th. BMO Capital Markets increased their price objective on Boralex from C$39.00 to C$46.00 in a research report on Thursday, September 5th. Finally, CIBC increased their price objective on Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd.

Boralex Price Performance

The firm’s 50 day moving average price is C$33.54 and its 200 day moving average price is C$31.68. Boralex has a fifty-two week low of C$25.40 and a fifty-two week high of C$36.68. The firm has a market capitalization of C$3.68 billion, a PE ratio of 38.17, a P/E/G ratio of 0.94 and a beta of 0.45. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24.

Boralex (TSE:BLX) last announced its earnings results on Wednesday, August 14th. The company reported C$0.10 EPS for the quarter, beating analysts’ consensus estimates of C$0.04 by C$0.06. Boralex had a return on equity of 6.69% and a net margin of 9.91%. The business had revenue of C$180.00 million during the quarter, compared to analysts’ expectations of C$211.65 million. As a group, research analysts anticipate that Boralex will post 1.2283737 EPS for the current fiscal year.

Boralex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of ∞. The ex-dividend date was Friday, August 30th. Boralex’s dividend payout ratio 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.