Boralex (TSE:BLX) Price Target Raised to C$42.00

Boralex (TSE:BLX) had its target price increased by Scotiabank from C$38.00 to C$42.00 in a research report released on Wednesday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also weighed in on BLX. BMO Capital Markets upped their target price on Boralex to C$37.00 and gave the stock an outperform rating in a research report on Monday, March 4th. Raymond James dropped their target price on Boralex from C$40.00 to C$38.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. CIBC upped their target price on Boralex from C$39.00 to C$41.00 and gave the stock an outperform rating in a research report on Wednesday. Desjardins upped their target price on Boralex from C$42.00 to C$44.00 and gave the stock a top pick rating in a research report on Thursday, June 6th. Finally, National Bankshares upped their target price on Boralex from C$41.00 to C$43.00 and gave the stock an outperform rating in a research report on Tuesday, May 28th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Buy and an average target price of C$41.00.

Boralex Stock Down 1.1 %

Shares of Boralex stock opened at C$34.07 on Wednesday. The stock has a 50-day moving average price of C$30.76 and a 200 day moving average price of C$30.94. The company has a market cap of C$3.50 billion, a P/E ratio of 34.77, a P/E/G ratio of 0.94 and a beta of 0.41. The company has a current ratio of 1.16, a quick ratio of 1.54 and a debt-to-equity ratio of 172.42. Boralex has a 1 year low of C$25.40 and a 1 year high of C$37.84.

Boralex (TSE:BLX) last announced its quarterly earnings data on Wednesday, May 15th. The company reported C$0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.48 by C$0.05. The firm had revenue of C$291.00 million during the quarter, compared to the consensus estimate of C$296.40 million. Boralex had a return on equity of 6.87% and a net margin of 10.14%. As a group, analysts expect that Boralex will post 1.0561014 EPS for the current fiscal year.

Boralex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, May 31st. Boralex’s dividend payout ratio is 67.35%.

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.