Boralex (TSE:BLX) Reaches New 1-Year High Following Analyst Upgrade

Boralex Inc. (TSE:BLX) hit a new 52-week high during trading on Thursday after CIBC raised their price target on the stock from C$26.50 to C$27.00. The company traded as high as C$26.43 and last traded at C$26.34, with a volume of 54812 shares. The stock had previously closed at C$26.14.

BLX has been the subject of a number of other reports. TD Securities lifted their price target on shares of Boralex from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Friday, November 8th. National Bank Financial lifted their price target on shares of Boralex from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. Finally, Raymond James reiterated an “outperform” rating and set a C$26.00 price target on shares of Boralex in a report on Friday, November 8th.

The business’s fifty day moving average is C$24.83 and its 200-day moving average is C$22.29. The stock has a market capitalization of $2.52 billion and a PE ratio of -230.88. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 465.31.

Boralex (TSE:BLX) last released its earnings results on Thursday, November 7th. The company reported C($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.38) by C$0.06. The company had revenue of C$92.00 million during the quarter, compared to analysts’ expectations of C$99.00 million. As a group, sell-side analysts anticipate that Boralex Inc. will post 0.33 EPS for the current fiscal year.

Boralex Company Profile (TSE:BLX)

Boralex Inc, together with its subsidiaries, develops, constructs, and operates renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2018, the company had interests in 81 wind power stations with an installed capacity of 1,723 megawatts (MW); 15 hydroelectric power stations with a capacity of 156 MW; 2 thermal power stations with an installed capacity of 47 MW; and 3 solar power stations with an installed capacity of 16 MW.

Read More: Diversification

Receive News & Ratings for Boralex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boralex and related companies with MarketBeat.com's FREE daily email newsletter.