Boralex Inc. (TSE:BLX) Given Consensus Recommendation of “Buy” by Analysts

Boralex Inc. (TSE:BLX) has been given an average recommendation of “Buy” by the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$43.38.

BLX has been the subject of several analyst reports. Cibc World Mkts upgraded Boralex to a “strong-buy” rating in a report on Monday, July 22nd. Royal Bank of Canada raised their price objective on shares of Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Raymond James upped their target price on shares of Boralex from C$38.00 to C$41.00 in a research note on Thursday, August 15th. BMO Capital Markets reduced their price target on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday. Finally, Cormark upped their price objective on Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th.

Boralex Price Performance

Shares of BLX opened at C$31.80 on Friday. Boralex has a fifty-two week low of C$26.25 and a fifty-two week high of C$36.68. The firm’s 50-day simple moving average is C$34.16 and its two-hundred day simple moving average is C$33.14. The stock has a market cap of C$3.27 billion, a PE ratio of 34.19, a price-to-earnings-growth 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 (TSE:BLX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, topping the consensus estimate of C$0.04 by C$0.06. The company had revenue of C$180.00 million for the quarter, compared to the consensus estimate of C$211.65 million. Boralex had a return on equity of 6.69% and a net margin of 9.91%. Analysts anticipate 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.