Shares of Boralex Inc. (TSE:BLX – Get Free Report) have received an average recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$43.22.
A number of research firms have issued reports on BLX. National Bankshares raised their target price on Boralex from C$43.00 to C$46.00 in a research report on Monday, July 8th. Cibc World Mkts upgraded Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada increased their target price on shares of Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th. CIBC boosted their price target on shares of Boralex from C$41.00 to C$42.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, Desjardins raised their price objective on shares of Boralex from C$44.00 to C$46.00 and gave the stock a “top pick” rating in a report on Friday, June 21st.
Read Our Latest Research Report on Boralex
Boralex Price Performance
Boralex (TSE:BLX – Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, beating 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 analysts’ expectations of C$211.65 million. On average, equities research analysts forecast that Boralex will post 1.2093023 earnings per share for the current year.
Boralex Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Friday, August 30th. Boralex’s payout ratio is 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.
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