Boralex (BLX) Scheduled to Post Quarterly Earnings on Thursday

Boralex (TSE:BLX) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, November 14th. Analysts expect the company to announce earnings of C($0.16) per share for the quarter.

Boralex (TSE:BLX) last issued its quarterly earnings data on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of C$180.00 million during the quarter, compared to the consensus estimate of C$211.65 million.

Boralex Stock Down 4.8 %

Shares of BLX stock opened at C$32.42 on Thursday. The firm has a fifty day moving average of C$34.19 and a 200-day moving average of C$32.89. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24. Boralex has a 12-month low of C$26.25 and a 12-month high of C$36.68. The company has a market capitalization of C$3.33 billion, a price-to-earnings ratio of 35.34, a P/E/G ratio of 2.01 and a beta of 0.46.

Boralex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.04%. The ex-dividend date was Friday, August 30th. Boralex’s payout ratio is 70.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BLX shares. Cibc World Mkts upgraded shares of Boralex to a “strong-buy” rating in a report on Monday, July 22nd. CIBC increased their target price on shares of Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Raymond James increased their target price on shares of Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. BMO Capital Markets increased their target price on shares of Boralex from C$39.00 to C$46.00 in a report on Thursday, September 5th. Finally, Royal Bank of Canada increased their target price on shares of Boralex from C$36.00 to C$38.00 in a report on Thursday, August 15th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$43.50.

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.