Boralex Inc. (TSE:BLX) Receives Average Recommendation of “Moderate Buy” from Analysts

Boralex Inc. (TSE:BLX) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$38.39.

A number of analysts recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Boralex from C$33.00 to C$37.25 and gave the stock a “sector perform” rating in a research report on Tuesday, May 12th. Raymond James Financial downgraded Boralex from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from C$38.00 to C$37.25 in a research report on Friday, May 15th. TD Securities downgraded Boralex from a “buy” rating to a “sell” rating and increased their target price for the stock from C$32.00 to C$37.25 in a research report on Thursday, March 26th. Finally, National Bank Financial set a C$39.00 price target on Boralex and gave the stock an “outperform” rating in a research note on Tuesday, March 24th.

Boralex Stock Performance

TSE BLX opened at C$37.00 on Wednesday. The company has a quick ratio of 1.53, a current ratio of 1.24 and a debt-to-equity ratio of 309.98. Boralex has a fifty-two week low of C$23.48 and a fifty-two week high of C$37.18. The business has a fifty day moving average of C$36.87 and a 200-day moving average of C$31.90. 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 0.20.

Boralex (TSE:BLX) last posted its quarterly earnings data on Thursday, May 14th. The company reported C($0.08) EPS for the quarter. The company had revenue of C$286.00 million for the quarter. Boralex had a negative return on equity of 2.08% and a negative net margin of 3.56%. As a group, analysts predict that Boralex will post 1.3383764 earnings per share for the current fiscal year.

Boralex Dividend Announcement

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

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.