BMO Capital Markets Issues Pessimistic Forecast for Boralex (TSE:BLX) Stock Price

Boralex (TSE:BLX) had its target price decreased by BMO Capital Markets from C$46.00 to C$45.00 in a research note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 41.51% from the company’s previous close.

A number of other brokerages have also recently weighed in on BLX. Cibc World Mkts upgraded Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. CIBC lowered their price target on shares of Boralex from C$43.00 to C$42.00 in a report on Friday. Cormark boosted their price objective on shares of Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. Royal Bank of Canada raised their target price on shares of Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Finally, Raymond James lifted their price target on shares of Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$43.38.

Boralex Price Performance

Shares of BLX opened at C$31.80 on Friday. The stock has a market capitalization of C$3.27 billion, a PE ratio of 34.19, a PEG ratio of 2.01 and a beta of 0.46. The company has a 50 day moving average price of C$34.16 and a 200-day moving average price of C$33.14. The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95. Boralex has a fifty-two week low of C$26.25 and a fifty-two week high of C$36.68.

Boralex (TSE:BLX) last posted its earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.04 by C$0.06. Boralex had a return on equity of 6.69% and a net margin of 9.91%. The company had revenue of C$180.00 million during the quarter, compared to analyst estimates of C$211.65 million. Equities analysts predict that Boralex will post 1.3383764 earnings per share for the current fiscal year.

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.