Boralex (TSE:BLX) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Boralex Inc. (TSE:BLX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$32.71 and traded as high as C$33.70. Boralex shares last traded at C$33.47, with a volume of 195,964 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. CIBC lifted their target price on Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. National Bankshares lifted their price objective on shares of Boralex from C$43.00 to C$46.00 in a report on Monday, July 8th. Cibc World Mkts upgraded shares of Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. Cormark lifted their price target on shares of Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. Finally, Raymond James increased their price objective on Boralex from C$38.00 to C$41.00 in a research note on Thursday, August 15th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Boralex has a consensus rating of “Buy” and an average target price of C$43.50.

Boralex Trading Up 0.2 %

The company has a market capitalization of C$3.44 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54. The company’s fifty day moving average is C$34.25 and its 200-day moving average is C$32.71.

Boralex (TSE:BLX) last announced its quarterly earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.04 by C$0.06. The business had revenue of C$180.00 million for the quarter, compared to the consensus estimate of C$211.65 million. Boralex had a return on equity of 6.69% and a net margin of 9.91%. On average, analysts anticipate that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.

Boralex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were paid a $0.165 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.66 annualized dividend and a yield of 1.97%. Boralex’s dividend payout ratio (DPR) is presently 70.97%.

Boralex Company Profile

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.