Cormark Has Pessimistic View of Boralex FY2024 Earnings

Boralex Inc. (TSE:BLX) – Cormark lowered their FY2024 earnings per share (EPS) estimates for shares of Boralex in a research report issued on Friday, November 15th. Cormark analyst N. Boychuk now anticipates that the company will post earnings per share of $1.31 for the year, down from their previous forecast of $1.32. The consensus estimate for Boralex’s current full-year earnings is $1.34 per share.

Several other equities analysts also recently weighed in on BLX. BMO Capital Markets dropped their target price on shares of Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. CIBC dropped their price objective on shares of Boralex from C$43.00 to C$42.00 in a research note on Friday, November 15th. Royal Bank of Canada lifted their price objective on Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th. Finally, Raymond James increased their target price on Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boralex presently has an average rating of “Buy” and an average price target of C$43.38.

Boralex Trading Down 1.5 %

TSE:BLX opened at C$30.00 on Monday. Boralex has a 52-week low of C$26.25 and a 52-week high of C$36.68. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24. The stock has a fifty day simple moving average of C$34.10 and a 200-day simple moving average of C$33.24. The company has a market capitalization of C$3.08 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

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.