FY2024 EPS Estimates for Boralex Inc. Increased by Raymond James (TSE:BLX)

Boralex Inc. (TSE:BLX) – Analysts at Raymond James boosted their FY2024 EPS estimates for Boralex in a report released on Wednesday, July 24th. Raymond James analyst D. Quezada now expects that the company will post earnings of $0.91 per share for the year, up from their previous estimate of $0.88. Raymond James has a “Outperform” rating and a $38.00 price objective on the stock. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. Raymond James also issued estimates for Boralex’s Q1 2025 earnings at $0.50 EPS.

Boralex (TSE:BLX) last posted its quarterly earnings data on Wednesday, May 15th. The company reported C$0.53 earnings per share for the quarter, topping the consensus estimate of C$0.48 by C$0.05. Boralex had a net margin of 10.14% and a return on equity of 6.87%. The firm had revenue of C$291.00 million for the quarter, compared to analysts’ expectations of C$296.40 million.

Other equities analysts have also recently issued reports about the stock. Desjardins lifted their price objective on shares of 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. Scotiabank lifted their price objective on shares of Boralex from C$38.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. CIBC lifted their price objective on shares of Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Monday. Cibc World Mkts upgraded shares of Boralex to a “strong-buy” rating in a research report on Monday. Finally, National Bankshares lifted their target price on shares of Boralex from C$43.00 to C$46.00 in a research note on Monday, July 8th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$41.67.

Boralex Trading Up 0.4 %

TSE BLX opened at C$32.87 on Friday. Boralex has a twelve month low of C$25.40 and a twelve month high of C$36.68. 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 stock has a market cap 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. The firm’s 50 day moving average price is C$33.83 and its two-hundred day moving average price is C$31.16.

Boralex Dividend Announcement

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

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.