Boralex (BLX) Scheduled to Post Quarterly Earnings on Thursday

Boralex (TSE:BLX) is scheduled to issue its quarterly earnings data before the market opens on Thursday, November 14th. Analysts expect the company to announce earnings of C($0.16) per share for the quarter.

Boralex (TSE:BLX) last posted its quarterly earnings data on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of C$180.00 million for the quarter, compared to the consensus estimate of C$211.65 million.

Boralex Stock Performance

TSE:BLX opened at C$32.42 on Thursday. The firm’s 50-day moving average is C$34.19 and its 200-day moving average is C$32.89. Boralex has a 52-week low of C$26.25 and a 52-week high of C$36.68. 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$3.33 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 2.01 and a beta of 0.46.

Boralex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders 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 dividend yield of 2.04%. Boralex’s payout ratio is 70.97%.

Analyst Ratings Changes

Several research firms have recently issued reports on BLX. Cibc World Mkts upgraded shares of Boralex to a “strong-buy” rating in a report on Monday, July 22nd. BMO Capital Markets boosted their price objective on shares of Boralex from C$39.00 to C$46.00 in a report on Thursday, September 5th. CIBC upped their target price on shares of Boralex from C$41.00 to C$42.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Cormark upped their target price on shares of Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. Finally, Royal Bank of Canada upped their target price on shares of Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$43.50.

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.