FY2024 EPS Estimates for Boralex Inc. Cut by Cormark (TSE:BLX)

Boralex Inc. (TSE:BLX) – Stock analysts at Cormark lowered their FY2024 earnings per share estimates for shares of Boralex in a report issued on Wednesday, May 1st. Cormark analyst N. Boychuk now expects that the company will earn $1.27 per share for the year, down from their previous forecast of $1.30. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share.

Boralex (TSE:BLX) last released its earnings results on Friday, March 1st. The company reported C$0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.51 by C($0.15). Boralex had a net margin of 7.63% and a return on equity of 5.68%. The firm had revenue of C$315.00 million during the quarter, compared to analyst estimates of C$262.30 million.

Other equities research analysts have also issued reports about the stock. Desjardins lowered their price target on shares of Boralex from C$44.00 to C$42.00 and set a “top pick” rating on the stock in a report on Tuesday. CIBC lowered their price target on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. BMO Capital Markets upped their price target on shares of Boralex to C$37.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Finally, Raymond James lowered their target price on shares of Boralex from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$40.00.

Boralex Price Performance

TSE:BLX opened at C$28.92 on Thursday. Boralex has a one year low of C$25.40 and a one year high of C$39.99. The company has a debt-to-equity ratio of 179.25, a quick ratio of 1.54 and a current ratio of 1.08. The firm has a market cap of C$2.97 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 0.94 and a beta of 0.41. The firm’s fifty day moving average is C$28.25 and its two-hundred day moving average is C$29.94.

Boralex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Wednesday, February 28th. Boralex’s dividend payout ratio is presently 86.84%.

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.