Boralex (TSE:BLX) Rating Increased to Strong-Buy at Cibc World Mkts

Cibc World Mkts upgraded shares of Boralex (TSE:BLX) to a strong-buy rating in a research note published on Monday, Zacks.com reports.

Several other equities analysts have also recently issued reports on the stock. National Bankshares upped their price target on shares of Boralex from C$43.00 to C$46.00 in a research report on Monday, July 8th. Raymond James reduced their price objective on shares of Boralex from C$40.00 to C$38.00 and set an outperform rating on the stock in a research note on Thursday, April 25th. CIBC increased their target price on shares of Boralex from C$41.00 to C$42.00 and gave the stock an outperform rating in a research note on Monday. Scotiabank raised their price objective on shares of Boralex from C$38.00 to C$42.00 and gave the company an outperform rating in a research note on Wednesday, June 12th. Finally, Desjardins increased their target price on shares of Boralex from C$44.00 to C$46.00 and gave the company a top pick rating in a report on Friday, June 21st. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of C$41.67.

Boralex Stock Performance

Shares of BLX stock opened at C$32.87 on Monday. The company has a debt-to-equity ratio of 172.42, a quick ratio of 1.54 and a current ratio of 1.16. The company has a market capitalization of C$3.38 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 0.94 and a beta of 0.41. Boralex has a 52 week low of C$25.40 and a 52 week high of C$36.68. The company has a 50-day simple moving average of C$33.83 and a 200 day simple moving average of C$31.16.

Boralex (TSE:BLX) last issued its earnings results on Wednesday, May 15th. The company reported C$0.53 EPS for the quarter, beating the consensus estimate of C$0.48 by C$0.05. The company had revenue of C$291.00 million during the quarter, compared to analysts’ expectations of C$296.40 million. Boralex had a net margin of 10.14% and a return on equity of 6.87%. On average, sell-side analysts predict that Boralex will post 1.0561014 earnings per share for the current year.

Boralex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, May 31st. Boralex’s dividend payout ratio (DPR) is 67.35%.

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.