What is Cormark’s Forecast for Boralex Q3 Earnings?

Boralex Inc. (TSE:BLX) – Cormark issued their Q3 2024 earnings per share estimates for shares of Boralex in a note issued to investors on Monday, October 21st. Cormark analyst N. Boychuk forecasts that the company will earn ($0.14) per share for the quarter. The consensus estimate for Boralex’s current full-year earnings is $1.34 per share.

A number of other analysts have also weighed in on BLX. CIBC increased their target price on Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Cibc World Mkts upgraded Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada increased their target price on Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Raymond James increased their target price on Boralex from C$38.00 to C$41.00 in a research note on Thursday, August 15th. Finally, BMO Capital Markets increased their price target on Boralex from C$39.00 to C$46.00 in a research report on Thursday, September 5th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$43.50.

Boralex Stock Performance

BLX stock opened at C$35.03 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24. The business’s fifty day simple moving average is C$34.27 and its two-hundred day simple moving average is C$32.52. Boralex has a twelve month low of C$25.49 and a twelve month high of C$36.68. The firm has a market cap of C$3.60 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 2.01 and a beta of 0.46.

Boralex (TSE:BLX) last released its quarterly 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. Boralex had a return on equity of 6.69% and a net margin of 9.91%. The company had revenue of C$180.00 million for the quarter, compared to analyst estimates of C$211.65 million.

Boralex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Friday, August 30th. Boralex’s payout ratio is currently 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.