National Bank Financial Weighs in on Boralex Inc.’s Q3 2024 Earnings (TSE:BLX)

Boralex Inc. (TSE:BLX) – Equities research analysts at National Bank Financial decreased their Q3 2024 EPS estimates for shares of Boralex in a research note issued on Wednesday, October 9th. National Bank Financial analyst R. Merer now expects that the company will earn ($0.18) per share for the quarter, down from their previous estimate of ($0.15). The consensus estimate for Boralex’s current full-year earnings is $1.21 per share. National Bank Financial also issued estimates for Boralex’s FY2024 earnings at $1.02 EPS and FY2025 earnings at $1.04 EPS.

A number of other brokerages have also commented on BLX. CIBC increased their price objective on shares of Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Raymond James increased their price target on shares of Boralex from C$38.00 to C$41.00 in a research report on Thursday, August 15th. BMO Capital Markets increased their price target on shares of Boralex from C$39.00 to C$46.00 in a research report on Thursday, September 5th. Desjardins increased their price target on shares of Boralex from C$44.00 to C$46.00 and gave the company a “top pick” rating in a research report on Friday, June 21st. Finally, National Bankshares increased their price target on shares of Boralex from C$43.00 to C$46.00 in a research report on Monday, July 8th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$43.22.

Boralex Stock Down 1.3 %

Shares of TSE:BLX opened at C$34.52 on Monday. Boralex has a 12 month low of C$25.40 and a 12 month high of C$36.68. The company’s 50-day moving average price is C$33.97 and its two-hundred day moving average price is C$32.16. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24. The firm has a market cap of C$3.55 billion, a P/E ratio of 37.59, a P/E/G ratio of 0.94 and a beta of 0.45.

Boralex (TSE:BLX) last issued its quarterly earnings data on Wednesday, August 14th. The company reported C$0.10 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of C$180.00 million for the quarter, compared to analyst estimates of C$211.65 million.

Boralex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were issued 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 1.91%. Boralex’s dividend payout ratio (DPR) is currently 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.