Analysts Set Boralex Inc. (TSE:BLX) Target Price at C$37.67

Shares of Boralex Inc. (TSE:BLX) have been given a consensus rating of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$37.67.

Several brokerages recently weighed in on BLX. Scotiabank dropped their price objective on Boralex from C$35.00 to C$31.00 in a research report on Tuesday, December 16th. CIBC dropped their target price on shares of Boralex from C$38.00 to C$37.00 in a report on Wednesday, December 17th. Desjardins decreased their price target on shares of 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. Finally, Royal Bank Of Canada lowered their price objective on shares of Boralex from C$38.00 to C$36.00 in a research report on Monday, November 10th.

Boralex Stock Performance

Shares of TSE:BLX opened at C$26.18 on Friday. The company’s 50 day simple moving average is C$25.90 and its 200 day simple moving average is C$28.37. The stock has a market capitalization of C$2.69 billion, a price-to-earnings ratio of -119.00, a price-to-earnings-growth ratio of 2.01 and a beta of 0.31. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54. Boralex has a 1 year low of C$23.48 and a 1 year high of C$33.30.

Boralex (TSE:BLX) last released its earnings results on Friday, November 7th. The company reported C($0.26) earnings per share for the quarter. Boralex had a return on equity of 4.29% and a net margin of 7.55%.The business had revenue of C$157.00 million for the quarter. As a group, research analysts predict that Boralex will post 1.3383764 EPS for the current fiscal year.

Boralex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, November 28th. Boralex’s dividend 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. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.