Cormark Has Negative Outlook for Boralex FY2024 Earnings

Boralex Inc. (TSE:BLX) – Analysts at Cormark reduced their FY2024 earnings per share estimates for shares of Boralex in a report released on Friday, November 15th. Cormark analyst N. Boychuk now anticipates that the company will earn $1.31 per share for the year, down from their previous estimate of $1.32. The consensus estimate for Boralex’s current full-year earnings is $1.34 per share.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets cut their target price on shares of Boralex from C$46.00 to C$45.00 in a report on Friday. Raymond James raised their price target on Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. CIBC reduced their price objective on Boralex from C$43.00 to C$42.00 in a research report on Friday. Royal Bank of Canada increased their target price on Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th. Finally, Cibc World Mkts raised shares of Boralex to a “strong-buy” rating in a report on Monday, July 22nd. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$43.38.

Boralex Trading Down 3.3 %

Boralex stock opened at C$31.80 on Monday. Boralex has a 1 year low of C$26.25 and a 1 year high of C$36.68. The firm’s 50-day moving average is C$34.16 and its 200-day moving average is C$33.19. 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$3.27 billion, a P/E ratio of 34.19, a PEG ratio of 2.01 and a beta of 0.46.

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.