Boralex Inc. (TSE:BLX) Given Average Rating of “Buy” by Analysts

Boralex Inc. (TSE:BLX) has received an average rating of “Buy” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is C$38.44.

Several research analysts have recently weighed in on the stock. CIBC dropped their price target on shares of Boralex from C$37.00 to C$36.00 in a research note on Wednesday, January 21st. Scotiabank lowered their price objective on Boralex from C$41.00 to C$39.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 21st. Royal Bank Of Canada reduced their target price on shares of Boralex from C$38.00 to C$36.00 in a report on Monday, November 10th. Finally, Desjardins lowered their price target on shares of Boralex from C$45.00 to C$43.00 and set a “top pick” rating on the stock in a report on Tuesday, October 28th.

Boralex Price Performance

Shares of BLX opened at C$26.13 on Wednesday. The firm has a fifty day simple moving average of C$25.37 and a two-hundred day simple moving average of C$27.63. The firm has a market cap of C$2.68 billion, a PE ratio of -118.77, a P/E/G ratio of 2.01 and a beta of 0.44. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. Boralex has a 1-year low of C$23.48 and a 1-year high of C$33.30.

Boralex (TSE:BLX) last released its quarterly earnings results on Friday, November 7th. The company reported C($0.26) earnings per share (EPS) for the quarter. The firm had revenue of C$157.00 million during the quarter. Boralex had a return on equity of 4.29% and a net margin of 7.55%. On average, equities analysts anticipate that Boralex will post 1.3383764 EPS for the current year.

Boralex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were given a dividend of $0.165 per share. The ex-dividend date was Friday, November 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.5%. Boralex’s dividend payout ratio is currently -300.00%.

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.