BMO Capital Markets Has Lowered Expectations for Boralex (TSE:BLX) Stock Price

Boralex (TSE:BLX) had its price objective trimmed by BMO Capital Markets from C$46.00 to C$45.00 in a report released on Friday,BayStreet.CA reports.

BLX has been the subject of a number of other reports. CIBC decreased their target price on shares of Boralex from C$43.00 to C$42.00 in a research note on Friday. Cormark boosted their target price on shares of Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. Cibc World Mkts upgraded shares of Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada upped their price objective on Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Finally, Raymond James upped their price objective on Boralex from C$38.00 to C$41.00 in a research note on Thursday, August 15th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$43.38.

Boralex Stock Down 3.3 %

BLX stock traded down C$1.07 during midday trading on Friday, hitting C$31.80. The company’s stock had a trading volume of 329,800 shares, compared to its average volume of 258,610. The company has a market cap of C$3.27 billion, a PE ratio of 34.19, a P/E/G ratio of 2.01 and a beta of 0.46. Boralex has a 12 month low of C$26.25 and a 12 month high of C$36.68. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. The firm’s 50-day moving average is C$34.16 and its 200-day moving average is C$33.10.

Boralex (TSE:BLX) last announced its earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.04 by C$0.06. The business had revenue of C$180.00 million during the quarter, compared to analyst estimates of C$211.65 million. Boralex had a net margin of 9.91% and a return on equity of 6.69%. On average, equities research analysts forecast that Boralex will post 1.3383764 earnings per share for the current fiscal year.

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.