Boralex (TSE:BLX) Issues Earnings Results

Boralex (TSE:BLX) posted its earnings results on Thursday. The company reported C($0.08) EPS for the quarter, FiscalAI reports. The business had revenue of C$286.00 million during the quarter. Boralex had a negative net margin of 3.56% and a negative return on equity of 2.08%.

Boralex Stock Up 0.1%

TSE BLX traded up C$0.04 on Friday, hitting C$36.86. 561,099 shares of the stock were exchanged, compared to its average volume of 741,041. Boralex has a fifty-two week low of C$23.48 and a fifty-two week high of C$36.99. The company has a 50-day moving average price of C$34.37 and a 200-day moving average price of C$29.05. The company has a quick ratio of 1.54, a current ratio of 1.24 and a debt-to-equity ratio of 309.98. The company has a market cap of C$3.79 billion, a PE ratio of 614.33, a PEG ratio of 2.01 and a beta of 0.26.

Boralex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, May 29th. Boralex’s payout ratio is 1,100.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BLX. National Bank Financial set a C$39.00 price target on Boralex and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Canadian Imperial Bank of Commerce decreased their target price on Boralex from C$37.00 to C$36.00 in a research note on Wednesday, January 21st. Raymond James Financial cut Boralex from an “outperform” rating to a “market perform” rating and lowered their target price for the company from C$38.00 to C$37.25 in a report on Friday. Scotiabank dropped their target price on Boralex from C$41.00 to C$39.00 and set an “outperform” rating for the company in a research report on Wednesday, January 21st. Finally, TD Securities lowered shares of Boralex from a “buy” rating to a “sell” rating and boosted their price target for the stock from C$32.00 to C$37.25 in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$38.47.

Boralex Company Profile

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. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.