Boralex (TSE:BLX) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Boralex Inc. (TSE:BLX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$32.06 and traded as high as C$37.07. Boralex shares last traded at C$37.00, with a volume of 271,376 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BLX shares. National Bank Financial set a C$39.00 price target on Boralex and gave the company an “outperform” rating in a research note on Tuesday, March 24th. Raymond James Financial downgraded Boralex from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from C$38.00 to C$37.25 in a research report on Friday, May 15th. Royal Bank Of Canada raised their price objective 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. Finally, TD Securities cut Boralex from a “buy” rating to a “sell” rating and lifted their target price for the company from C$32.00 to C$37.25 in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$38.39.

Boralex Stock Performance

The company has a debt-to-equity ratio of 309.98, a quick ratio of 1.53 and a current ratio of 1.24. The firm has a market cap of C$3.81 billion, a P/E ratio of -119.48, a P/E/G ratio of 2.01 and a beta of 0.20. The company’s 50 day moving average is C$36.89 and its 200 day moving average is C$32.10.

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

Boralex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were issued a $0.165 dividend. 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 dividend 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.