Boralex (TSE:BLX) Sets New 12-Month Low – Here’s What Happened

Boralex Inc. (TSE:BLX)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as C$25.74 and last traded at C$25.81, with a volume of 30862 shares changing hands. The stock had previously closed at C$26.18.

Wall Street Analysts Forecast Growth

BLX has been the subject of a number of recent analyst reports. BMO Capital Markets reduced their target price on Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. CIBC cut their price target on Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$43.13.

Boralex Stock Down 1.9 %

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 stock has a market cap of C$2.64 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 2.01 and a beta of 0.46. The firm’s 50 day moving average is C$29.14 and its two-hundred day moving average is C$32.31.

Boralex Company Profile

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power.