Scotiabank Cuts Boralex (TSE:BLX) Price Target to C$31.00

Boralex (TSE:BLX) had its target price reduced by Scotiabank from C$35.00 to C$31.00 in a research report released on Tuesday,BayStreet.CA reports.

Several other equities research analysts have also weighed in on BLX. Desjardins dropped their target price on Boralex from C$45.00 to C$43.00 and set a “top pick” rating on the stock in a research report on Tuesday, October 28th. CIBC dropped their price objective on shares of Boralex from C$39.00 to C$38.00 in a report on Monday, November 10th. Finally, Royal Bank Of Canada cut their price objective on shares of Boralex from C$38.00 to C$36.00 in a research report on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Boralex has an average rating of “Buy” and a consensus price target of C$37.67.

Boralex Stock Up 1.3%

Shares of TSE:BLX opened at C$25.32 on Tuesday. The company’s fifty day moving average is C$26.49 and its two-hundred day moving average is C$28.88. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. Boralex has a 1-year low of C$23.48 and a 1-year high of C$33.30. The stock has a market capitalization of C$2.60 billion, a price-to-earnings ratio of -115.09, a price-to-earnings-growth ratio of 2.01 and a beta of 0.31.

Boralex (TSE:BLX) last posted its quarterly earnings results on Friday, November 7th. The company reported C($0.26) EPS for the quarter. Boralex had a net margin of 7.55% and a return on equity of 4.29%. The business had revenue of C$157.00 million during the quarter. Equities analysts anticipate that Boralex will post 1.3383764 EPS for the current year.

Boralex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, November 28th. Boralex’s dividend payout ratio is currently -300.00%.

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.