BMO Capital Markets Raises Boralex (TSE:BLX) Price Target to C$46.00

Boralex (TSE:BLX) had its price objective hoisted by BMO Capital Markets from C$39.00 to C$46.00 in a research note published on Thursday morning, BayStreet.CA reports.

A number of other research firms have also recently weighed in on BLX. Cibc World Mkts upgraded shares of Boralex to a strong-buy rating in a research report on Monday, July 22nd. Cormark upped their price objective on shares of Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th. Raymond James upped their target price on shares of Boralex from C$38.00 to C$41.00 in a report on Thursday, August 15th. CIBC upped their target price on shares of Boralex from C$41.00 to C$42.00 and gave the stock an outperform rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada upped their target price on shares of Boralex from C$36.00 to C$38.00 in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Boralex has a consensus rating of Buy and a consensus price target of C$43.22.

Boralex Stock Down 1.7 %

BLX stock opened at C$31.19 on Thursday. The firm’s fifty day simple moving average is C$33.51 and its 200-day simple moving average is C$31.37. The company has a market capitalization of C$3.21 billion, a P/E ratio of 33.54, a price-to-earnings-growth ratio of 0.94 and a beta of 0.45. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54. Boralex has a 12 month low of C$25.40 and a 12 month high of C$36.68.

Boralex (TSE:BLX) last posted its earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.04 by C$0.06. Boralex had a net margin of 9.91% and a return on equity of 6.69%. The firm had revenue of C$180.00 million during the quarter, compared to analysts’ expectations of C$211.65 million. As a group, equities research analysts forecast that Boralex will post 1.06144 earnings per share for the current year.

Boralex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th will be given a dividend of $0.165 per share. The ex-dividend date is Friday, August 30th. This represents a $0.66 annualized dividend and a dividend yield of 2.12%. Boralex’s dividend payout ratio is presently 70.97%.

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.