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

Boralex (TSE:BLXFree Report) had its price target hoisted by Desjardins from C$44.00 to C$46.00 in a research report report published on Friday, BayStreet.CA reports. They currently have a top pick rating on the stock.

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

View Our Latest Analysis on BLX

Boralex Stock Performance

TSE:BLX opened at C$33.19 on Friday. The company has a debt-to-equity ratio of 172.42, a current ratio of 1.16 and a quick ratio of 1.54. The firm has a market capitalization of C$3.41 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 0.94 and a beta of 0.41. The company’s 50-day moving average is C$31.33 and its two-hundred day moving average is C$31.01. Boralex has a 1-year low of C$25.40 and a 1-year high of C$37.01.

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

Boralex Dividend Announcement

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

About Boralex

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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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