Boralex Inc. (TSE:BLX) Receives C$40.50 Consensus Target Price from Analysts

Shares of Boralex Inc. (TSE:BLX) have earned a consensus recommendation of “Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$40.50.

A number of research analysts have commented on the company. BMO Capital Markets reduced their price objective on Boralex from C$46.00 to C$45.00 in a research note on Friday, November 15th. National Bankshares reduced their price target on Boralex from C$46.00 to C$43.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Cormark lowered their price objective on shares of Boralex from C$47.00 to C$35.00 in a research report on Thursday, January 30th. CIBC reduced their target price on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. Finally, Scotiabank lowered their price target on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th.

Boralex Stock Performance

Shares of BLX stock opened at C$27.21 on Tuesday. The company’s fifty day simple moving average is C$26.98 and its 200-day simple moving average is C$30.96. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. Boralex has a 52 week low of C$24.40 and a 52 week high of C$36.68. The company has a market cap of C$2.83 billion, a PE ratio of 39.89, a P/E/G ratio of 2.01 and a beta of 0.46.

Boralex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 17th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.66 annualized dividend and a yield of 2.43%. Boralex’s dividend payout ratio is presently 96.76%.

About Boralex

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power.