National Bank Financial Weighs in on Boralex Inc.’s Q3 2024 Earnings (TSE:BLX)

Boralex Inc. (TSE:BLX) – Stock analysts at National Bank Financial dropped their Q3 2024 EPS estimates for Boralex in a research report issued on Wednesday, October 9th. National Bank Financial analyst R. Merer now forecasts that the company will post earnings per share of ($0.18) for the quarter, down from their previous estimate of ($0.15). The consensus estimate for Boralex’s current full-year earnings is $1.21 per share. National Bank Financial also issued estimates for Boralex’s FY2024 earnings at $1.02 EPS and FY2025 earnings at $1.04 EPS.

Boralex (TSE:BLX) last released its earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of C$211.65 million.

A number of other equities analysts have also recently commented on BLX. BMO Capital Markets lifted their price objective on shares of Boralex from C$39.00 to C$46.00 in a research report on Thursday, September 5th. Raymond James lifted their target price on Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. National Bankshares lifted their target price on Boralex from C$43.00 to C$46.00 in a report on Monday, July 8th. Desjardins boosted their price target on Boralex from C$44.00 to C$46.00 and gave the company a “top pick” rating in a research note on Friday, June 21st. Finally, CIBC boosted their price target on Boralex from C$41.00 to C$42.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$43.22.

Boralex Trading Down 1.3 %

BLX stock opened at C$34.52 on Monday. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54. The company has a fifty day moving average price of C$33.97 and a two-hundred day moving average price of C$32.16. Boralex has a one year low of C$25.40 and a one year high of C$36.68. The stock has a market cap of C$3.55 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 0.94 and a beta of 0.45.

Boralex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were issued a $0.165 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.91%. Boralex’s dividend payout ratio (DPR) is currently 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.