Desjardins Boosts Boralex (TSE:BLX) Price Target to C$46.00

Boralex (TSE:BLXFree Report) had its price target upped by Desjardins from C$44.00 to C$46.00 in a report released on Friday morning, BayStreet.CA reports. The brokerage currently has a top pick rating on the stock.

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

Check Out Our Latest Research Report on Boralex

Boralex Price Performance

BLX stock opened at C$33.19 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.54 and a debt-to-equity ratio of 172.42. Boralex has a one year low of C$25.40 and a one year high of C$37.01. The firm has a market capitalization of C$3.41 billion, a PE ratio of 33.87, a P/E/G ratio of 0.94 and a beta of 0.41. The firm has a 50-day moving average of C$31.33 and a two-hundred day moving average of C$31.01.

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

Boralex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Friday, May 31st. Boralex’s payout ratio is presently 67.35%.

Boralex Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Boralex (TSE:BLX)

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