Analysts Set Boralex Inc. (TSE:BLX) PT at C$43.22

Shares of Boralex Inc. (TSE:BLX) have received an average recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$43.22.

A number of analysts recently weighed in on BLX shares. Scotiabank boosted their target price on 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 World Mkts upgraded Boralex to a “strong-buy” rating in a research report on Monday, July 22nd. Cormark boosted their target price on Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th. BMO Capital Markets boosted their price objective on Boralex from C$39.00 to C$46.00 in a research report on Thursday, September 5th. Finally, Royal Bank of Canada boosted their price objective on Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th.

Boralex Stock Performance

Shares of BLX opened at C$36.00 on Friday. The stock has a 50-day moving average price of C$33.65 and a 200-day moving average price of C$31.83. The company has a market cap of C$3.70 billion, a PE ratio of 38.71, a price-to-earnings-growth ratio of 0.94 and a beta of 0.45. Boralex has a 12-month low of C$25.40 and a 12-month high of C$36.68. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24.

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

Boralex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were paid a dividend of $0.165 per share. The ex-dividend date was Friday, August 30th. This represents a $0.66 annualized dividend 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.