Boralex (TSE:BLX) Given New C$38.00 Price Target at Raymond James

Boralex (TSE:BLX) had its price objective decreased by Raymond James from C$40.00 to C$38.00 in a report published on Thursday, BayStreet.CA reports. Raymond James currently has an outperform rating on the stock. Raymond James also issued estimates for Boralex’s Q2 2024 earnings at $0.06 EPS, Q4 2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.11) EPS and Q4 2025 earnings at $0.54 EPS.

A number of other research firms have also commented on BLX. Desjardins lifted their target price on shares of Boralex from C$43.00 to C$44.00 and gave the stock a top pick rating in a report on Monday, January 29th. BMO Capital Markets lifted their target price on shares of Boralex to C$37.00 and gave the stock an outperform rating in a report on Monday, March 4th. Finally, CIBC lowered their target price on shares of Boralex from C$40.00 to C$38.00 and set an outperform rating for the company in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of C$40.25.

Boralex Stock Performance

Shares of Boralex stock opened at C$27.16 on Thursday. The company has a debt-to-equity ratio of 179.25, a current ratio of 1.08 and a quick ratio of 1.54. The firm has a market cap of C$2.79 billion, a P/E ratio of 35.74, a P/E/G ratio of 0.94 and a beta of 0.41. The firm has a 50 day simple moving average of C$28.47 and a 200 day simple moving average of C$29.97. Boralex has a fifty-two week low of C$25.40 and a fifty-two week high of C$41.50.

Boralex (TSE:BLX) last released its earnings results on Friday, March 1st. The company reported C$0.36 EPS for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.15). Boralex had a return on equity of 5.68% and a net margin of 7.63%. The business had revenue of C$315.00 million for the quarter, compared to analyst estimates of C$262.30 million. Sell-side analysts predict that Boralex will post 1.0599765 earnings per share for the current fiscal year.

Boralex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.165 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.66 annualized dividend and a yield of 2.43%. Boralex’s dividend payout ratio is currently 86.84%.

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.