Brokers Set Expectations for Boralex Inc.’s Q3 2024 Earnings (TSE:BLX)

Boralex Inc. (TSE:BLX) – Analysts at National Bank Financial decreased their Q3 2024 EPS estimates for Boralex in a research note issued on Wednesday, August 14th. National Bank Financial analyst R. Merer now expects that the company will post earnings per share of ($0.15) for the quarter, down from their prior estimate of ($0.14). The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. National Bank Financial also issued estimates for Boralex’s FY2024 earnings at $1.08 EPS and FY2025 earnings at $0.93 EPS.

BLX has been the topic of a number of other reports. Cibc World Mkts raised Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. BMO Capital Markets increased their target price on Boralex from C$37.00 to C$39.00 in a report on Thursday, August 15th. National Bankshares boosted their price target on shares of Boralex from C$43.00 to C$46.00 in a research note on Monday, July 8th. Cormark raised their price objective on shares of Boralex from C$45.00 to C$47.00 in a research note on Thursday, August 15th. Finally, Desjardins boosted their target price 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. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Boralex presently has an average rating of “Buy” and an average target price of C$42.90.

Boralex Price Performance

BLX stock opened at C$33.29 on Monday. The company has a debt-to-equity ratio of 174.81, a current ratio of 0.95 and a quick ratio of 1.54. The company’s 50-day moving average is C$33.88 and its 200-day moving average is C$31.31. The stock has a market capitalization of C$3.42 billion, a PE ratio of 35.80, a price-to-earnings-growth 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th will be given a dividend of $0.165 per share. The ex-dividend date is Friday, August 30th. This represents a $0.66 annualized dividend and a dividend yield of 1.98%. Boralex’s dividend payout ratio is currently 70.97%.

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.