Boralex (TSE:BLX) Shares Cross Above 200 Day Moving Average – Time to Sell?

Boralex Inc. (TSE:BLX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$32.06 and traded as high as C$37.07. Boralex shares last traded at C$37.00, with a volume of 271,376 shares.

Wall Street Analyst Weigh In

BLX has been the topic of several analyst reports. TD Securities downgraded shares of Boralex from a “buy” rating to a “sell” rating and lifted 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 cut shares of Boralex from an “outperform” rating to a “market perform” rating and dropped their price target for the company from C$38.00 to C$37.25 in a research report on Friday, May 15th. Royal Bank Of Canada raised their price target on shares of Boralex from C$33.00 to C$37.25 and gave the stock a “sector perform” rating in a report on Tuesday, May 12th. Finally, National Bank Financial set a C$39.00 price objective on shares of Boralex and gave the company an “outperform” rating in a research note on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$38.39.

Boralex Price Performance

The business has a fifty day simple moving average of C$36.88 and a two-hundred day simple moving average of C$32.06. The company has a current ratio of 1.24, a quick ratio of 1.53 and a debt-to-equity ratio of 309.98. The stock has a market cap of C$3.80 billion, a PE ratio of -119.35, a P/E/G ratio of 2.01 and a beta of 0.20.

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

Boralex Dividend Announcement

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