Boralex Inc. (TSE:BLX) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Boralex Inc. (TSE:BLX) have earned an average rating of “Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$43.13.

Several equities research analysts recently commented on the stock. BMO Capital Markets cut their price objective on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. CIBC reduced their price objective on Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th.

Boralex Price Performance

Shares of BLX opened at C$26.19 on Friday. The stock has a market cap of C$2.69 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. Boralex has a 1 year low of C$25.55 and a 1 year high of C$36.68. The stock’s 50-day moving average price is C$28.86 and its two-hundred day moving average price is C$32.22. 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 Company Profile

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power.