Boralex (TSE:BLX) Reaches New 12-Month High – Should You Buy?

Boralex Inc. (TSE:BLX) shares reached a new 52-week high on Thursday . The company traded as high as C$37.18 and last traded at C$37.00, with a volume of 309616 shares traded. The stock had previously closed at C$37.00.

Analyst Ratings Changes

Several brokerages have weighed in on BLX. TD Securities cut shares of Boralex from a “buy” rating to a “sell” rating and lifted their price objective for the stock from C$32.00 to C$37.25 in a research note on Thursday, March 26th. Raymond James Financial cut shares of Boralex from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from C$38.00 to C$37.25 in a report on Friday, May 15th. National Bank Financial set a C$39.00 price target on shares of Boralex and gave the company an “outperform” rating in a research report on Tuesday, March 24th. Finally, Royal Bank Of Canada boosted their price target on Boralex from C$33.00 to C$37.25 and gave the company a “sector perform” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Boralex presently has an average rating of “Moderate Buy” and an average price target of C$38.39.

Boralex Price Performance

The company has a debt-to-equity ratio of 309.98, a current ratio of 1.24 and a quick ratio of 1.53. The stock has a market cap of C$3.80 billion, a price-to-earnings ratio of -119.35, a price-to-earnings-growth ratio of 2.01 and a beta of 0.18. The business’s 50-day simple moving average is C$36.85 and its two-hundred day simple moving average is C$31.56.

Boralex (TSE:BLX) last released its quarterly earnings results on Thursday, May 14th. The company reported C($0.08) earnings per share for the quarter. Boralex had a negative return on equity of 2.08% and a negative net margin of 3.56%.The firm had revenue of C$286.00 million for the quarter. Research analysts expect that Boralex Inc. will post 1.3383764 earnings per share for the current year.

Boralex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.66 annualized dividend and a yield of 1.8%. Boralex’s payout ratio is presently -212.90%.

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.