Boralex (TSE:BLX) Hits New 52-Week High – Still a Buy?

Boralex Inc. (TSE:BLX) shares hit a new 52-week high on Wednesday . The stock traded as high as C$36.99 and last traded at C$36.99, with a volume of 248592 shares. The stock had previously closed at C$36.89.

Analysts Set New Price Targets

Several brokerages recently weighed in on BLX. Royal Bank Of Canada increased their target price on Boralex from C$33.00 to C$37.25 and gave the stock a “sector perform” rating in a research report on Tuesday, May 12th. National Bank Financial set a C$39.00 target price on Boralex and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Raymond James Financial lowered Boralex from an “outperform” rating to a “market perform” rating and cut their target price for the stock from C$38.00 to C$37.25 in a research report on Friday, May 15th. Finally, TD Securities lowered Boralex from a “buy” rating to a “sell” rating and increased their target price for the stock from C$32.00 to C$37.25 in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$38.39.

Boralex Trading Up 0.2%

The stock has a market capitalization of C$3.80 billion, a price-to-earnings ratio of -119.29, a P/E/G ratio of 2.01 and a beta of 0.26. The company has a debt-to-equity ratio of 309.98, a quick ratio of 1.54 and a current ratio of 1.24. The firm has a fifty day moving average of C$35.73 and a 200-day moving average of C$29.49.

Boralex (TSE:BLX) last announced its quarterly earnings results on Thursday, May 14th. The company reported C($0.08) earnings per share (EPS) for the quarter. The company had revenue of C$286.00 million during the quarter. Boralex had a negative net margin of 3.56% and a negative return on equity of 2.08%. As a group, equities analysts predict that Boralex Inc. will post 1.3383764 earnings per share for the current fiscal year.

Boralex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, May 29th. This represents a $0.66 annualized dividend and a dividend yield of 1.8%. Boralex’s dividend payout ratio (DPR) is currently -212.90%.

Boralex Company Profile

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.