Boralex Inc. (TSE:BLX) Receives C$43.50 Average Target Price from Analysts

Shares of Boralex Inc. (TSE:BLX) have been assigned a consensus rating of “Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$43.50.

Several research firms recently commented on BLX. Raymond James upped their price target on shares of Boralex from C$38.00 to C$41.00 in a research note on Thursday, August 15th. Cormark raised their price objective on shares of Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th. Cibc World Mkts upgraded Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada boosted their price objective on Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Finally, CIBC lifted their target price on Boralex from C$41.00 to C$42.00 and gave the company an “outperform” rating in a report on Monday, July 22nd.

Boralex Trading Up 0.2 %

Shares of TSE BLX opened at C$32.87 on Friday. Boralex has a 1-year low of C$26.25 and a 1-year high of C$36.68. The company has a market cap of C$3.38 billion, a PE ratio of 35.34, a P/E/G ratio of 2.01 and a beta of 0.46. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. The company has a 50-day moving average of C$34.17 and a two-hundred day moving average of C$33.07.

Boralex (TSE:BLX) last announced its quarterly earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of C$211.65 million. As a group, equities analysts expect that Boralex will post 1.3383764 earnings per share for the current fiscal year.

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.