Boralex (TSE:BLX) Given New C$46.00 Price Target at Desjardins

Boralex (TSE:BLX) had its target price increased by Desjardins from C$44.00 to C$46.00 in a report issued on Friday, BayStreet.CA reports. Desjardins currently has a top pick rating on the stock.

A number of other brokerages have also issued reports on BLX. Raymond James decreased their price target on Boralex from C$40.00 to C$38.00 and set an outperform rating for the company in a research note on Thursday, April 25th. National Bankshares raised their price objective on Boralex from C$41.00 to C$43.00 and gave the stock an outperform rating in a research note on Tuesday, May 28th. Scotiabank raised their price objective on Boralex from C$38.00 to C$42.00 and gave the stock an outperform rating in a research note on Wednesday, June 12th. CIBC raised their price objective on Boralex from C$39.00 to C$41.00 and gave the stock an outperform rating in a research note on Wednesday, June 12th. Finally, BMO Capital Markets raised their price objective on Boralex to C$37.00 and gave the stock an outperform rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of C$41.22.

Boralex Stock Performance

Shares of TSE BLX opened at C$33.19 on Friday. The stock has a fifty day moving average price of C$31.33 and a two-hundred day moving average price of C$31.02. The company has a debt-to-equity ratio of 172.42, a quick ratio of 1.54 and a current ratio of 1.16. The firm has a market cap of C$3.41 billion, a P/E ratio of 33.87, a PEG ratio of 0.94 and a beta of 0.41. Boralex has a 1 year low of C$25.40 and a 1 year high of C$37.01.

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

Boralex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a dividend of $0.165 per share. The ex-dividend date was Friday, May 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.99%. 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.