National Bankshares Raises Boralex (TSE:BLX) Price Target to C$46.00

Boralex (TSE:BLX) had its price objective boosted by National Bankshares from C$43.00 to C$46.00 in a research note released on Monday morning, BayStreet.CA reports.

BLX has been the subject of a number of other reports. Raymond James dropped their price objective on shares of Boralex from C$40.00 to C$38.00 and set an outperform rating for the company in a research note on Thursday, April 25th. Scotiabank lifted their price target on shares of Boralex from C$38.00 to C$42.00 and gave the stock an outperform rating in a research note on Wednesday, June 12th. CIBC lifted their price target on shares of Boralex from C$39.00 to C$41.00 and gave the stock an outperform rating in a research note on Wednesday, June 12th. Finally, Desjardins lifted their price target on shares of Boralex from C$44.00 to C$46.00 and gave the stock a top pick rating in a research note on Friday, June 21st. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boralex has an average rating of Buy and an average target price of C$41.56.

Boralex Stock Performance

Shares of TSE BLX opened at C$34.10 on Monday. The stock has a market cap of C$3.50 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. The firm has a fifty day moving average price of C$33.05 and a 200-day moving average price of C$31.12. Boralex has a 1 year low of C$25.40 and a 1 year high of C$36.68. The company has a debt-to-equity ratio of 172.42, a current ratio of 1.16 and a quick ratio of 1.54.

Boralex (TSE:BLX) last posted its earnings results on Wednesday, May 15th. The company reported C$0.53 earnings per share for the quarter, beating the consensus estimate of C$0.48 by C$0.05. The company had revenue of C$291.00 million during the quarter, compared to analysts’ expectations of C$296.40 million. Boralex had a net margin of 10.14% and a return on equity of 6.87%. Equities analysts anticipate that Boralex will post 1.0561014 earnings per share for the current fiscal year.

Boralex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.66 annualized dividend and a dividend yield of 1.94%. Boralex’s dividend payout ratio (DPR) is presently 67.35%.

About Boralex

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.