Boralex Inc. (TSE:BLX – Get Free Report) has received an average recommendation of “Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$43.22.
BLX has been the topic of a number of recent research reports. Raymond James increased their target price on Boralex from C$38.00 to C$41.00 in a research note on Thursday, August 15th. Cibc World Mkts raised shares of Boralex to a “strong-buy” rating in a report on Monday, July 22nd. CIBC raised their target price on shares of Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Scotiabank lifted their price objective on shares of Boralex from C$38.00 to C$42.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Finally, Cormark raised their target price on shares of Boralex from C$45.00 to C$47.00 in a report on Thursday, August 15th.
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Boralex Price Performance
Boralex (TSE:BLX – Get Free Report) last issued 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 company had revenue of C$180.00 million for the quarter, compared to analysts’ expectations of C$211.65 million. Boralex had a return on equity of 6.69% and a net margin of 9.91%. Research analysts expect that Boralex will post 1.2283737 EPS for the current fiscal year.
Boralex Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Friday, August 30th. Boralex’s payout ratio is 70.97%.
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.
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