Analysts Set Boralex Inc. (TSE:BLX) Target Price at C$43.50

Boralex Inc. (TSE:BLX) has received a consensus recommendation of “Buy” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$43.50.

A number of research analysts recently commented on the stock. CIBC increased their price target on shares of Boralex from C$41.00 to C$42.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Cormark raised their price objective on Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. Royal Bank of Canada boosted their target price on Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th. BMO Capital Markets raised their price target on Boralex from C$39.00 to C$46.00 in a research report on Thursday, September 5th. Finally, Cibc World Mkts raised shares of Boralex to a “strong-buy” rating in a research note on Monday, July 22nd.

Boralex Trading Down 1.4 %

BLX stock opened at C$32.51 on Friday. The firm has a fifty day moving average price of C$34.18 and a 200 day moving average price of C$33.07. Boralex has a fifty-two week low of C$26.25 and a fifty-two week high of C$36.68. The firm has a market cap of C$3.34 billion, a PE ratio of 34.96, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95.

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 business had revenue of C$180.00 million during the quarter, compared to analysts’ expectations of C$211.65 million. Sell-side analysts anticipate that Boralex will post 1.3383764 earnings per share for the current fiscal year.

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.