Boralex Inc. (TSE:BLX) Receives Consensus Rating of “Buy” from Brokerages

Shares of Boralex Inc. (TSE:BLX) have earned an average rating of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$43.38.

A number of equities analysts recently commented on the company. Cormark raised their target price on Boralex from C$45.00 to C$47.00 in a report on Thursday, August 15th. Raymond James lifted their price objective on Boralex from C$38.00 to C$41.00 in a research report on Thursday, August 15th. CIBC reduced their target price on shares of Boralex from C$43.00 to C$42.00 in a report on Friday. BMO Capital Markets lowered their price target on shares of Boralex from C$46.00 to C$45.00 in a report on Friday. Finally, Cibc World Mkts raised shares of Boralex to a “strong-buy” rating in a research note on Monday, July 22nd.

Boralex Price Performance

TSE BLX opened at C$31.80 on Friday. The company has a 50-day moving average price of C$34.16 and a 200-day moving average price of C$33.14. Boralex has a 52 week low of C$26.25 and a 52 week high of C$36.68. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24. The firm has a market capitalization of C$3.27 billion, a P/E ratio of 34.19, a PEG ratio of 2.01 and a beta of 0.46.

Boralex (TSE:BLX) last released its quarterly earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, topping the consensus estimate of C$0.04 by C$0.06. The business had revenue of C$180.00 million for the quarter, compared to the consensus estimate of C$211.65 million. Boralex had a net margin of 9.91% and a return on equity of 6.69%. Equities research analysts anticipate that Boralex will post 1.3383764 earnings per share for the current year.

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.