Boralex (TSE:BLX) Issues Quarterly Earnings Results

Boralex (TSE:BLX) issued its quarterly earnings results on Thursday. The company reported C($0.08) EPS for the quarter, FiscalAI reports. The company had revenue of C$286.00 million during the quarter. Boralex had a return on equity of 0.45% and a net margin of 0.84%.

Boralex Price Performance

Boralex stock traded up C$0.01 during midday trading on Friday, reaching C$36.83. The company’s stock had a trading volume of 351,025 shares, compared to its average volume of 738,615. Boralex has a fifty-two week low of C$23.48 and a fifty-two week high of C$36.99. The company has a debt-to-equity ratio of 323.15, a quick ratio of 1.54 and a current ratio of 1.29. The stock’s 50 day simple moving average is C$34.18 and its 200 day simple moving average is C$28.99. The firm has a market capitalization of C$3.78 billion, a PE ratio of 613.83, a P/E/G ratio of 2.01 and a beta of 0.26.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Canadian Imperial Bank of Commerce cut their price target on shares of Boralex from C$37.00 to C$36.00 in a report on Wednesday, January 21st. Royal Bank Of Canada boosted their price target on shares of Boralex from C$33.00 to C$37.25 and gave the company a “sector perform” rating in a research report on Tuesday. Scotiabank decreased their target price on shares of Boralex from C$41.00 to C$39.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 21st. National Bank Financial set a C$39.00 price target on shares of Boralex and gave the stock an “outperform” rating in a research note on Tuesday, March 24th. Finally, TD Securities lowered shares of Boralex from a “buy” rating to a “sell” rating and boosted their price target for the stock from C$32.00 to C$37.25 in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$38.64.

About Boralex

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.