Boralex Inc. (TSE:BLX) Given Consensus Recommendation of “Buy” by Analysts

Boralex Inc. (TSE:BLX) has earned a consensus rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is C$40.50.

A number of equities analysts have issued reports on BLX shares. Scotiabank cut their price target on Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. CIBC cut their target price on Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. National Bankshares cut their target price on Boralex from C$46.00 to C$43.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Cormark lowered their price target on shares of Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. Finally, BMO Capital Markets lowered their price target on shares of Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th.

Boralex Price Performance

BLX stock opened at C$25.79 on Tuesday. The company has a market capitalization of C$2.68 billion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. Boralex has a 52-week low of C$24.40 and a 52-week high of C$36.68. The business has a 50-day simple moving average of C$27.27 and a two-hundred day simple moving average of C$31.18.

Boralex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 17th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.66 annualized dividend and a dividend yield of 2.56%. Boralex’s payout ratio is currently 96.76%.

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.