Boralex (TSE:BLX) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Boralex Inc. (TSE:BLX) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$32.07 and traded as high as C$35.42. Boralex shares last traded at C$35.07, with a volume of 250,131 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BLX. BMO Capital Markets boosted their price target on Boralex from C$39.00 to C$46.00 in a research note on Thursday, September 5th. Raymond James upped their price objective on Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. National Bankshares increased their price target on shares of Boralex from C$43.00 to C$46.00 in a research report on Monday, July 8th. Desjardins boosted their price target on shares of Boralex from C$44.00 to C$46.00 and gave the company a “top pick” rating in a report on Friday, June 21st. Finally, Cibc World Mkts upgraded shares of Boralex to a “strong-buy” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Boralex has a consensus rating of “Buy” and an average target price of C$43.22.

Boralex Trading Down 1.0 %

The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95. The stock has a market capitalization of C$3.60 billion, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 0.94 and a beta of 0.45. The business has a fifty day simple moving average of C$33.88 and a 200 day simple moving average of C$32.07.

Boralex (TSE:BLX) last announced its quarterly earnings data on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.04 by C$0.06. Boralex had a net margin of 9.91% and a return on equity of 6.69%. The business had revenue of C$180.00 million for the quarter, compared to analysts’ expectations of C$211.65 million. As a group, research analysts expect that Boralex Inc. will post 1.2093023 EPS for the current year.

Boralex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.88%. Boralex’s dividend payout ratio (DPR) is presently 70.97%.

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.