Boralex (TSE:BLX) Reaches New 12-Month Low at $30.09

Boralex Inc. (TSE:BLX) shares reached a new 52-week low on Thursday . The company traded as low as C$30.09 and last traded at C$30.49, with a volume of 52243 shares traded. The stock had previously closed at C$30.80.

A number of equities analysts have weighed in on the stock. Tudor Pickering & Holt set a C$41.00 price target on shares of Boralex and gave the stock a “hold” rating in a research report on Wednesday, December 22nd. BMO Capital Markets restated a “buy” rating and set a C$44.00 target price on shares of Boralex in a research report on Monday, November 15th. TD Securities dropped their target price on shares of Boralex from C$50.00 to C$46.00 and set an “action list buy” rating for the company in a research report on Thursday, December 16th. Scotiabank dropped their target price on shares of Boralex from C$52.25 to C$51.00 in a research report on Monday, November 15th. Finally, CIBC dropped their target price on shares of Boralex from C$48.00 to C$42.00 in a research report on Tuesday. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$45.64.

The company has a market cap of C$3.10 billion and a PE ratio of 119.09. The stock’s 50 day moving average is C$35.05 and its 200-day moving average is C$37.02. The company has a quick ratio of 0.89, a current ratio of 1.06 and a debt-to-equity ratio of 328.61.

Boralex (TSE:BLX) last released its quarterly earnings results on Friday, November 12th. The company reported C($0.20) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C($0.21) by C$0.01. The business had revenue of C$126.00 million for the quarter, compared to analysts’ expectations of C$130.00 million. On average, analysts anticipate that Boralex Inc. will post 0.63 EPS for the current fiscal year.

About Boralex (TSE:BLX)

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, the United Kingdom, and the United States. As of December 31, 2020, the company had interests in 88 wind power stations with an installed capacity of 2,002 megawatts (MW); 16 hydroelectric power stations with a capacity of 181 MW; two thermal power stations with an installed capacity of 47 MW; and 10 solar power stations with an installed capacity of 225 MW.

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