Boralex (TSE:BLX) Hits New 52-Week Low – Time to Sell?

Boralex Inc. (TSE:BLX) shares hit a new 52-week low during trading on Monday . The company traded as low as C$24.08 and last traded at C$24.08, with a volume of 75698 shares. The stock had previously closed at C$24.96.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BLX. Desjardins decreased their price objective on Boralex from C$45.00 to C$43.00 and set a “top pick” rating on the stock in a report on Tuesday, October 28th. Royal Bank Of Canada decreased their price target on Boralex from C$38.00 to C$36.00 in a research note on Monday, November 10th. CIBC dropped their price objective on Boralex from C$39.00 to C$38.00 in a research note on Monday, November 10th. Scotiabank reduced their target price on shares of Boralex from C$36.00 to C$35.00 and set a “sector perform” rating on the stock in a research note on Monday, August 11th. Finally, National Bankshares dropped their target price on shares of Boralex from C$43.00 to C$41.00 and set an “outperform” rating for the company in a research report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Boralex has an average rating of “Buy” and a consensus target price of C$38.22.

Boralex Price Performance

The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. The stock has a market capitalization of C$2.46 billion, a P/E ratio of -108.95, a PEG ratio of 2.01 and a beta of 0.33. The company has a fifty day simple moving average of C$27.23 and a two-hundred day simple moving average of C$29.38.

Boralex (TSE:BLX) last issued its quarterly earnings results on Friday, November 7th. The company reported C($0.26) EPS for the quarter. The business had revenue of C$157.00 million for the quarter. Boralex had a return on equity of 4.29% and a net margin of 7.55%. Sell-side analysts expect that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.

Boralex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 15th will be given a dividend of $0.165 per share. The ex-dividend date is Friday, November 28th. This represents a $0.66 annualized dividend and a dividend yield of 2.8%. Boralex’s payout ratio is presently -300.00%.

About Boralex

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power.