Boralex (TSE:BLX) Sets New 52-Week High – Should You Buy?

Boralex Inc. (TSE:BLX) reached a new 52-week high on Friday . The company traded as high as C$36.88 and last traded at C$36.85, with a volume of 92600 shares changing hands. The stock had previously closed at C$36.76.

Analyst Ratings Changes

A number of research firms have weighed in on BLX. Scotiabank decreased their price objective on Boralex from C$41.00 to C$39.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. Canadian Imperial Bank of Commerce decreased their price objective on Boralex from C$37.00 to C$36.00 in a report on Wednesday, January 21st. TD Securities downgraded Boralex from a “buy” rating to a “sell” rating and lifted their price objective for the company from C$32.00 to C$37.25 in a report on Thursday, March 26th. Finally, National Bank Financial set a C$39.00 price objective on Boralex and gave the company an “outperform” rating in a report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$38.46.

Boralex Stock Performance

The firm has a fifty day simple moving average of C$32.64 and a 200-day simple moving average of C$28.50. The company has a current ratio of 1.29, a quick ratio of 1.54 and a debt-to-equity ratio of 323.15. The stock has a market cap of C$3.79 billion, a price-to-earnings ratio of 614.17, a P/E/G ratio of 2.01 and a beta of 0.04.

Boralex (TSE:BLX) last posted its quarterly earnings data on Friday, February 27th. The company reported C$0.13 earnings per share (EPS) for the quarter. Boralex had a return on equity of 0.45% and a net margin of 0.84%.The firm had revenue of C$258.00 million for the quarter. Analysts forecast that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.

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.