National Bank Financial Equities Analysts Cut Earnings Estimates for Boralex Inc. (TSE:BLX)

Boralex Inc. (TSE:BLX) – Investment analysts at National Bank Financial dropped their Q3 2024 earnings estimates for shares of Boralex in a report released on Wednesday, April 17th. National Bank Financial analyst R. Merer now anticipates that the company will earn ($0.19) per share for the quarter, down from their prior forecast of ($0.18). The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. National Bank Financial also issued estimates for Boralex’s FY2024 earnings at $0.76 EPS.

Several other research analysts have also commented on the stock. CIBC decreased their price objective on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a report on Friday. Desjardins upped their price objective on shares of Boralex from C$43.00 to C$44.00 and gave the stock a “top pick” rating in a report on Monday, January 29th. Finally, BMO Capital Markets upped their target price on shares of Boralex to C$37.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boralex currently has an average rating of “Buy” and an average price target of C$40.50.

Boralex Stock Up 0.9 %

Shares of TSE BLX opened at C$26.99 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.54 and a debt-to-equity ratio of 179.25. Boralex has a 12 month low of C$25.40 and a 12 month high of C$41.56. The firm has a market capitalization of C$2.77 billion, a PE ratio of 35.51, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. The firm has a fifty day simple moving average of C$28.59 and a two-hundred day simple moving average of C$30.00.

Boralex (TSE:BLX) last issued its quarterly earnings data on Friday, March 1st. The company reported C$0.36 EPS for the quarter, missing the consensus estimate of C$0.51 by C($0.15). Boralex had a return on equity of 5.68% and a net margin of 7.63%. The company had revenue of C$315.00 million during the quarter, compared to the consensus estimate of C$262.30 million.

Boralex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Wednesday, February 28th. Boralex’s dividend payout ratio is presently 86.84%.

About Boralex

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.