Raymond James Trims Boralex (TSE:BLX) Target Price to C$38.00

Boralex (TSE:BLX) had its price objective trimmed by Raymond James from C$40.00 to C$38.00 in a research note issued to investors on Thursday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock. Raymond James also issued estimates for Boralex’s Q2 2024 earnings at $0.06 EPS, Q4 2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.11) EPS and Q4 2025 earnings at $0.54 EPS.

Several other equities research analysts have also recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Boralex to C$37.00 and gave the stock an outperform rating in a research report on Monday, March 4th. CIBC lowered their price target on shares of Boralex from C$40.00 to C$38.00 and set an outperform rating for the company in a research report on Friday, April 19th. Finally, Desjardins upped their price target on shares of Boralex from C$43.00 to C$44.00 and gave the stock a top pick rating in a research report on Monday, January 29th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of C$40.25.

Boralex Price Performance

Shares of BLX stock opened at C$27.31 on Thursday. The company has a debt-to-equity ratio of 179.25, a current ratio of 1.08 and a quick ratio of 1.54. The company has a market capitalization of C$2.81 billion, a P/E ratio of 35.93, a P/E/G ratio of 0.94 and a beta of 0.41. The company’s 50-day simple moving average is C$28.35 and its two-hundred day simple moving average is C$29.95. Boralex has a one year low of C$25.40 and a one year high of C$40.03.

Boralex (TSE:BLX) last issued its earnings results on Friday, March 1st. The company reported C$0.36 EPS for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.15). The company had revenue of C$315.00 million during the quarter, compared to the consensus estimate of C$262.30 million. Boralex had a return on equity of 5.68% and a net margin of 7.63%. As a group, equities analysts anticipate that Boralex will post 1.0599765 EPS for the current year.

Boralex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 2.42%. Boralex’s payout ratio is 86.84%.

Boralex Company Profile

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.