Brokerages Set Boralex Inc. (TSE:BLX) Price Target at C$38.64

Boralex Inc. (TSE:BLX) has received an average rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$38.47.

A number of equities analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce lowered their target price on Boralex from C$37.00 to C$36.00 in a research note on Wednesday, January 21st. Scotiabank lowered their target price on Boralex from C$41.00 to C$39.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 21st. TD Securities lowered Boralex from a “buy” rating to a “sell” rating and increased their target price for the stock from C$32.00 to C$37.25 in a research note on Thursday, March 26th. Raymond James Financial lowered Boralex from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from C$38.00 to C$37.25 in a research note on Friday. Finally, National Bank Financial set a C$39.00 target price on Boralex and gave the stock an “outperform” rating in a research note on Tuesday, March 24th.

Boralex Price Performance

Boralex stock opened at C$36.86 on Tuesday. The company has a market capitalization of C$3.79 billion, a price-to-earnings ratio of -118.90, a PEG ratio of 2.01 and a beta of 0.26. The company has a current ratio of 1.24, a quick ratio of 1.54 and a debt-to-equity ratio of 309.98. Boralex has a 12 month low of C$23.48 and a 12 month high of C$36.99. The stock’s 50 day moving average is C$34.57 and its 200-day moving average is C$29.11.

Boralex (TSE:BLX) last announced its earnings results on Thursday, May 14th. The company reported C($0.08) earnings per share for the quarter. The firm had revenue of C$286.00 million for the quarter. Boralex had a negative return on equity of 2.08% and a negative net margin of 3.56%. Equities research analysts expect that Boralex will post 1.3383764 EPS for the current year.

Boralex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, May 29th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.8%. Boralex’s dividend payout ratio (DPR) is -212.90%.

About Boralex

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.