Boralex (TSE:BLX) Cut to Sell at TD Securities

TD Securities cut shares of Boralex (TSE:BLX) from a buy rating to a sell rating in a research report released on Thursday morning, MarketBeat.com reports. TD Securities currently has C$37.25 target price on the stock, up from their prior target price of C$32.00.

Other analysts also recently issued research reports about the stock. Scotiabank reduced their price objective on shares of 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. Canadian Imperial Bank of Commerce dropped their target price on shares of Boralex from C$37.00 to C$36.00 in a research report on Wednesday, January 21st. Finally, National Bank Financial set a C$39.00 target price on shares of Boralex and gave the stock an “outperform” rating in a research note on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Boralex currently has a consensus rating of “Moderate Buy” and a consensus price target of C$38.46.

Boralex Stock Up 0.2%

Shares of Boralex stock opened at C$36.70 on Thursday. The stock’s 50-day moving average is C$27.68 and its 200 day moving average is C$26.96. Boralex has a one year low of C$23.48 and a one year high of C$36.78. The firm has a market cap of C$3.77 billion, a price-to-earnings ratio of 611.67, a PEG ratio of 2.01 and a beta of 0.73. The company has a debt-to-equity ratio of 323.15, a current ratio of 1.29 and a quick ratio of 1.54.

Boralex (TSE:BLX) last issued its earnings results on Friday, February 27th. The company reported C$0.13 earnings per share for the quarter. Boralex had a return on equity of 0.45% and a net margin of 0.84%.The business had revenue of C$258.00 million during the quarter. Equities research analysts anticipate that Boralex will post 1.3383764 EPS for the current year.

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.