Boralex (TSE:BLX) Price Target Cut to C$45.00 by Analysts at BMO Capital Markets

Boralex (TSE:BLX) had its price target lowered by BMO Capital Markets from C$46.00 to C$45.00 in a research note published on Friday,BayStreet.CA reports.

BLX has been the topic of a number of other research reports. Cibc World Mkts upgraded Boralex to a “strong-buy” rating in a report on Monday, July 22nd. Royal Bank of Canada upped their target price on Boralex from C$36.00 to C$38.00 in a report on Thursday, August 15th. Cormark boosted their price target on Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th. Raymond James boosted their price target on Boralex from C$38.00 to C$41.00 in a research report on Thursday, August 15th. Finally, CIBC dropped their price target on Boralex from C$43.00 to C$42.00 in a research report on Friday. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$43.38.

Boralex Price Performance

BLX traded down C$1.07 during trading on Friday, reaching C$31.80. The stock had a trading volume of 329,800 shares, compared to its average volume of 258,610. The stock has a market cap of C$3.27 billion, a PE ratio of 34.19, a PEG ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95. Boralex has a one year low of C$26.25 and a one year high of C$36.68. The business has a 50-day moving average of C$34.16 and a 200-day moving average of C$33.10.

Boralex (TSE:BLX) last announced its quarterly earnings data on Wednesday, August 14th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.04 by C$0.06. Boralex had a return on equity of 6.69% and a net margin of 9.91%. The firm had revenue of C$180.00 million for the quarter, compared to analysts’ expectations of C$211.65 million. As a group, equities research analysts anticipate that Boralex will post 1.3383764 EPS 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.