Equities Analysts Set Expectations for Boralex Inc.’s Q1 2024 Earnings (TSE:BLX)

Boralex Inc. (TSE:BLX) – Cormark issued their Q1 2024 EPS estimates for shares of Boralex in a note issued to investors on Wednesday, May 1st. Cormark analyst N. Boychuk expects that the company will post earnings of $0.66 per share for the quarter. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share.

Boralex (TSE:BLX) last issued its earnings results on Friday, March 1st. The company reported C$0.36 earnings per share (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 firm had revenue of C$315.00 million during the quarter, compared to the consensus estimate of C$262.30 million.

A number of other analysts have also commented on BLX. Raymond James reduced their target price on Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. BMO Capital Markets lifted their price objective on Boralex to C$37.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Desjardins lowered their target price on shares of Boralex from C$44.00 to C$42.00 and set a “top pick” rating on the stock in a research note on Tuesday, April 30th. Finally, CIBC dropped their price target on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Boralex currently has an average rating of “Buy” and an average target price of C$40.00.

Boralex Price Performance

Shares of TSE BLX opened at C$29.89 on Friday. The firm has a market cap of C$3.07 billion, a P/E ratio of 39.33, a PEG ratio of 0.94 and a beta of 0.41. Boralex has a twelve month low of C$25.40 and a twelve month high of C$39.99. The company has a quick ratio of 1.54, a current ratio of 1.08 and a debt-to-equity ratio of 179.25. The company has a 50 day moving average of C$28.26 and a 200 day moving average of C$29.97.

Boralex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Wednesday, February 28th. Boralex’s dividend payout ratio (DPR) is presently 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.