Boralex (TSE:BLX) Given New C$38.00 Price Target at CIBC

Boralex (TSE:BLX) had its target price cut by CIBC from C$40.00 to C$38.00 in a research report sent to investors on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Desjardins lifted their price target on shares of Boralex from C$43.00 to C$44.00 and gave the company a top pick rating in a research report on Monday, January 29th. BMO Capital Markets boosted 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 issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Buy and an average target price of C$40.50.

Boralex Trading Down 1.2 %

Shares of BLX stock opened at C$26.76 on Friday. The stock has a market cap of C$2.75 billion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. The company has a quick ratio of 1.54, a current ratio of 1.08 and a debt-to-equity ratio of 179.25. Boralex has a fifty-two week low of C$25.40 and a fifty-two week high of C$41.56. The firm’s 50 day moving average price is C$28.67 and its two-hundred day moving average price is C$29.99.

Boralex (TSE:BLX) last announced its quarterly earnings results on Friday, March 1st. The company reported C$0.36 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.15). The business had revenue of C$315.00 million for the quarter, compared to analyst estimates of C$262.30 million. Boralex had a net margin of 7.63% and a return on equity of 5.68%. On average, 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. Stockholders 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 dividend yield of 2.47%. Boralex’s payout ratio is currently 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.