CIBC Raises Boralex (TSE:BLX) Price Target to C$42.00

Boralex (TSE:BLX) had its price objective boosted by CIBC from C$41.00 to C$42.00 in a research note published on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities analysts have also commented on the stock. National Bankshares upped their price target on shares of Boralex from C$43.00 to C$46.00 in a research report on Monday, July 8th. Scotiabank upped their price target on shares of Boralex from C$38.00 to C$42.00 and gave the stock an outperform rating in a research report on Wednesday, June 12th. Desjardins upped their price target on shares of Boralex from C$44.00 to C$46.00 and gave the stock a top pick rating in a research report on Friday, June 21st. Finally, Raymond James dropped their price target on shares of Boralex from C$40.00 to C$38.00 and set an outperform rating for the company in a research report on Thursday, April 25th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus price target of C$41.67.

Boralex Stock Performance

TSE:BLX opened at C$32.75 on Monday. The firm has a 50 day simple moving average of C$33.81 and a 200-day simple moving average of C$31.15. The company has a debt-to-equity ratio of 172.42, a current ratio of 1.16 and a quick ratio of 1.54. The firm has a market cap of C$3.37 billion, a PE ratio of 33.42, a P/E/G ratio of 0.94 and a beta of 0.41. Boralex has a 1-year low of C$25.40 and a 1-year high of C$36.68.

Boralex (TSE:BLX) last posted its quarterly earnings data on Wednesday, May 15th. The company reported C$0.53 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.48 by C$0.05. The business had revenue of C$291.00 million during the quarter, compared to analyst estimates of C$296.40 million. Boralex had a net margin of 10.14% and a return on equity of 6.87%. On average, equities analysts expect that Boralex will post 1.0561014 EPS for the current year.

Boralex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were issued a $0.165 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.02%. Boralex’s dividend payout ratio (DPR) is presently 67.35%.

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.