Boralex (TSE:BLX) Shares Up 8.6%

Boralex Inc. (TSE:BLXGet Free Report) shot up 8.6% on Wednesday . The company traded as high as C$32.55 and last traded at C$31.86. 287,007 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 239,436 shares. The stock had previously closed at C$29.35.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BLX. Desjardins reduced their price objective on Boralex from C$44.00 to C$42.00 and set a “top pick” rating for the company in a research note on Tuesday, April 30th. BMO Capital Markets boosted their price objective on Boralex to C$37.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. CIBC reduced their price objective on Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Finally, Raymond James reduced their price objective on Boralex from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$40.00.

Get Our Latest Analysis on Boralex

Boralex Price Performance

The company has a 50-day simple moving average of C$28.35 and a 200-day simple moving average of C$30.16. The stock has a market cap of C$3.23 billion, a PE ratio of 41.32, a PEG ratio of 0.94 and a beta of 0.41. The company has a debt-to-equity ratio of 179.25, a current ratio of 1.08 and a quick ratio of 1.54.

Boralex (TSE:BLXGet Free Report) last released its quarterly earnings data on Friday, March 1st. The company reported C$0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.51 by C($0.15). The business had revenue of C$315.00 million during the quarter, compared to analysts’ expectations of C$262.30 million. Boralex had a return on equity of 5.68% and a net margin of 7.63%. Sell-side analysts anticipate that Boralex Inc. will post 0.8788592 EPS for the current fiscal year.

About Boralex

(Get Free Report)

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.

Further Reading

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