Boralex Inc. (TSE:BLX) Given Average Rating of “Buy” by Brokerages

Boralex Inc. (TSE:BLX) has earned a consensus rating of “Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$43.22.

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. National Bankshares upped their target price on shares of Boralex from C$43.00 to C$46.00 in a research note on Monday, July 8th. CIBC upped their target price on shares of Boralex from C$41.00 to C$42.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Raymond James upped their target price on shares of Boralex from C$38.00 to C$41.00 in a research note on Thursday, August 15th. Finally, Cibc World Mkts raised shares of Boralex to a “strong-buy” rating in a research note on Monday, July 22nd.

Boralex Stock Performance

TSE:BLX opened at C$35.50 on Friday. The firm’s 50-day moving average is C$33.52 and its 200-day moving average is C$31.60. Boralex has a 52-week low of C$25.40 and a 52-week high of C$36.68. The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95. The company has a market cap of C$3.65 billion, a price-to-earnings ratio of 38.17, a PEG ratio of 0.94 and a beta of 0.45.

Boralex (TSE:BLX) last posted its quarterly earnings data on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.04 by C$0.06. Boralex had a net margin of 9.91% and a return on equity of 6.69%. The company had revenue of C$180.00 million for the quarter, compared to the consensus estimate of C$211.65 million. Equities research analysts anticipate that Boralex will post 1.2283737 earnings per share for the current year.

Boralex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.66 annualized dividend and a yield of 1.86%. Boralex’s dividend payout ratio is 70.97%.

About Boralex

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.