Brokerages Set Boralex Inc. (TSE:BLX) Price Target at C$42.44

Boralex Inc. (TSE:BLX) has been given an average rating of “Buy” by the nine ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$42.44.

BLX has been the subject of a number of research analyst reports. Cormark upped their price target on shares of Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. National Bankshares upped their price target on shares of Boralex from C$43.00 to C$46.00 in a research note on Monday, July 8th. BMO Capital Markets upped their price target on shares of Boralex from C$37.00 to C$39.00 in a research note on Thursday, August 15th. Desjardins increased their target price on shares of Boralex from C$44.00 to C$46.00 and gave the company a “top pick” rating in a research note on Friday, June 21st. Finally, Scotiabank increased their target price on shares of Boralex from C$38.00 to C$42.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th.

Boralex Trading Down 1.7 %

Shares of TSE:BLX opened at C$32.27 on Tuesday. The company has a 50 day moving average of C$33.68 and a 200-day moving average of C$31.35. The firm has a market cap of C$3.32 billion, a P/E ratio of 34.70, a P/E/G ratio of 0.94 and a beta of 0.45. Boralex has a twelve month low of C$25.40 and a twelve 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.

Boralex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Friday, August 30th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, August 30th. Boralex’s dividend payout ratio is 70.97%.

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.