Boralex (TSE:BLX) Hits New 12-Month High – What’s Next?

Shares of Boralex Inc. (TSE:BLX) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$37.24 and last traded at C$37.21, with a volume of 30469 shares trading hands. The stock had previously closed at C$37.23.

Analysts Set New Price Targets

A number of research firms have issued reports on BLX. Raymond James Financial lowered shares of Boralex from an “outperform” rating to a “market perform” rating and reduced their target price for the company from C$38.00 to C$37.25 in a research note on Friday, May 15th. Royal Bank Of Canada lifted their price target on Boralex from C$33.00 to C$37.25 and gave the company a “sector perform” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Boralex presently has an average rating of “Moderate Buy” and an average target price of C$38.39.

Boralex Stock Up 0.1%

The company has a debt-to-equity ratio of 309.98, a quick ratio of 1.53 and a current ratio of 1.24. The stock’s fifty day simple moving average is C$37.01 and its two-hundred day simple moving average is C$34.05. The company has a market capitalization of C$3.83 billion, a price-to-earnings ratio of -120.10, a P/E/G ratio of 2.01 and a beta of 0.22.

Boralex (TSE:BLX) last issued its quarterly earnings results on Thursday, May 14th. The company reported C($0.08) earnings per share for the quarter. Boralex had a negative return on equity of 2.08% and a negative net margin of 3.56%.The company had revenue of C$286.00 million during the quarter. On average, sell-side analysts anticipate that Boralex Inc. will post 1.3383764 EPS for the current year.

Boralex Announces Dividend

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