Scotiabank Cuts Boralex (TSE:BLX) Price Target to C$39.00

Boralex (TSE:BLX) had its price objective reduced by Scotiabank from C$41.00 to C$39.00 in a research report released on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages have also issued reports on BLX. Royal Bank Of Canada decreased their price target on shares of Boralex from C$38.00 to C$36.00 in a research note on Monday, November 10th. Desjardins dropped their price target on Boralex from C$45.00 to C$43.00 and set a “top pick” rating on the stock in a research report on Tuesday, October 28th. Finally, CIBC cut their price target on Boralex from C$37.00 to C$36.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$38.44.

Boralex Trading Up 0.4%

BLX opened at C$25.82 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60. Boralex has a 52 week low of C$23.48 and a 52 week high of C$33.30. The stock has a market cap of C$2.65 billion, a PE ratio of -117.36, a PEG ratio of 2.01 and a beta of 0.44. The business has a 50 day moving average of C$25.37 and a 200-day moving average of C$27.76.

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

Boralex Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend 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.