FY2024 Earnings Forecast for Boralex Issued By Cormark

Boralex Inc. (TSE:BLX) – Research analysts at Cormark decreased their FY2024 earnings per share estimates for Boralex in a 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.

BLX has been the subject of several other reports. CIBC cut their target price on shares of Boralex from C$43.00 to C$42.00 in a research note on Friday. Cibc World Mkts upgraded Boralex to a “strong-buy” rating in a research report on Monday, July 22nd. BMO Capital Markets decreased their target price on Boralex from C$46.00 to C$45.00 in a report on Friday. Royal Bank of Canada boosted their target price on Boralex from C$36.00 to C$38.00 in a research report on Thursday, August 15th. Finally, Raymond James increased their price target on Boralex from C$38.00 to C$41.00 in a research report on Thursday, August 15th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$43.38.

Boralex Price Performance

Shares of TSE BLX opened at C$31.80 on Monday. The firm has a 50-day moving average of C$34.16 and a two-hundred day moving average of C$33.19. The company has a market capitalization of C$3.27 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.01 and a beta of 0.46. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. Boralex has a twelve month low of C$26.25 and a twelve month high of C$36.68.

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.