Boralex Inc. (TSE:BLX – Get Free Report)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$31.91 and traded as high as C$36.06. Boralex shares last traded at C$35.98, with a volume of 185,891 shares changing hands.
Analyst Ratings Changes
BLX has been the topic of several recent analyst reports. CIBC boosted their target price on shares of Boralex from C$41.00 to C$42.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Royal Bank of Canada lifted their price target on Boralex from C$36.00 to C$38.00 in a report on Thursday, August 15th. Raymond James lifted their price target on Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. National Bankshares lifted their price target on Boralex from C$43.00 to C$46.00 in a report on Monday, July 8th. Finally, Scotiabank lifted their price target on Boralex from C$38.00 to C$42.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$43.22.
Read Our Latest Report on Boralex
Boralex Price Performance
Boralex (TSE:BLX – Get Free Report) last announced its quarterly earnings data 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 firm had revenue of C$180.00 million during the quarter, compared to analysts’ expectations of C$211.65 million. Boralex had a return on equity of 6.69% and a net margin of 9.91%. Sell-side analysts expect that Boralex Inc. will post 1.2283737 EPS for the current fiscal year.
Boralex Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were paid a $0.165 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.83%. 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.
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