Cormark Has Negative Outlook of Boralex FY2024 Earnings

Boralex Inc. (TSE:BLX) – Equities researchers at Cormark lowered their FY2024 EPS estimates for Boralex in a research note issued to investors on Friday, November 15th. Cormark analyst N. Boychuk now forecasts that the company will earn $1.31 per share for the year, down from their prior estimate of $1.32. The consensus estimate for Boralex’s current full-year earnings is $1.34 per share.

BLX has been the subject of several other reports. CIBC reduced their price target on Boralex from C$43.00 to C$42.00 in a report on Friday. Cibc World Mkts upgraded shares of Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. Raymond James increased their price target on shares of Boralex from C$38.00 to C$41.00 in a research note on Thursday, August 15th. Royal Bank of Canada lifted their price objective on shares of Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Finally, BMO Capital Markets decreased their price objective on shares of Boralex from C$46.00 to C$45.00 in a report on Friday. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$43.38.

Boralex Price Performance

BLX opened at C$30.45 on Monday. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. Boralex has a 1 year low of C$26.25 and a 1 year high of C$36.68. The stock has a fifty day moving average price of C$34.12 and a 200 day moving average price of C$33.21. The stock has a market cap of C$3.13 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 2.01 and a beta of 0.46.

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.