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

Boralex Inc. (TSE:BLX) has earned an average rating of “Buy” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$38.44.

BLX has been the subject of a number of research analyst reports. Desjardins lowered their price target on Boralex from C$45.00 to C$43.00 and set a “top pick” rating for the company in a report on Tuesday, October 28th. CIBC decreased their target price on shares of Boralex from C$37.00 to C$36.00 in a research report on Wednesday. Royal Bank Of Canada dropped their price target on shares of Boralex from C$38.00 to C$36.00 in a research report on Monday, November 10th. Finally, Scotiabank reduced their price target on shares of Boralex from C$41.00 to C$39.00 and set an “outperform” rating on the stock in a research note on Wednesday.

Boralex Stock Up 0.4%

TSE BLX opened at C$25.82 on Wednesday. The business’s fifty day simple moving average is C$25.37 and its 200-day simple moving average is C$27.76. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60. The firm has a market cap of C$2.65 billion, a PE ratio of -117.36, a P/E/G ratio of 2.01 and a beta of 0.44. Boralex has a 52 week low of C$23.48 and a 52 week high of C$33.30.

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

Boralex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, November 28th. Boralex’s dividend payout ratio is -300.00%.

Boralex Company Profile

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.