Boralex Inc. (TSE:BLX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Boralex Inc. (TSE:BLX) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$38.39.

A number of research analysts recently weighed in on the company. National Bank Financial set a C$39.00 target price on Boralex and gave the stock an “outperform” rating in a report on Tuesday, March 24th. Raymond James Financial lowered Boralex from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$38.00 to C$37.25 in a report on Friday, May 15th. TD Securities lowered Boralex from a “buy” rating to a “sell” rating and boosted their target price for the stock from C$32.00 to C$37.25 in a report on Thursday, March 26th. Finally, Royal Bank Of Canada boosted their target price on Boralex from C$33.00 to C$37.25 and gave the stock a “sector perform” rating in a report on Tuesday, May 12th.

Boralex Stock Up 0.1%

BLX stock opened at C$37.00 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.54 and a debt-to-equity ratio of 309.98. The firm has a market capitalization of C$3.80 billion, a PE ratio of -119.35, a PEG ratio of 2.01 and a beta of 0.18. Boralex has a 1-year low of C$23.48 and a 1-year high of C$37.05. The business’s 50 day simple moving average is C$36.85 and its 200 day simple moving average is C$31.47.

Boralex (TSE:BLX) last posted its earnings results on Thursday, May 14th. The company reported C($0.08) earnings per share for the quarter. The business 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%. As a group, research analysts anticipate that Boralex will post 1.3383764 EPS for the current year.

Boralex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were paid a $0.165 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.66 annualized dividend and a yield of 1.8%. Boralex’s payout ratio is -212.90%.

Boralex Company Profile

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.