Boralex (TSE:BLX) Reaches New 52-Week Low – Should You Sell?

Boralex Inc. (TSE:BLX) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as C$24.08 and last traded at C$24.08, with a volume of 75698 shares traded. The stock had previously closed at C$24.96.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Royal Bank Of Canada dropped their price objective on Boralex from C$38.00 to C$36.00 in a report on Monday, November 10th. Scotiabank cut their price objective on Boralex from C$36.00 to C$35.00 and set a “sector perform” rating on the stock in a research note on Monday, August 11th. CIBC decreased their target price on Boralex from C$39.00 to C$38.00 in a research report on Monday, November 10th. Desjardins dropped their price target on Boralex from C$45.00 to C$43.00 and set a “top pick” rating on the stock in a research report on Tuesday, October 28th. Finally, National Bankshares lowered their target price on shares of Boralex from C$43.00 to C$41.00 and set an “outperform” rating for the company in a research note on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$38.22.

Boralex Stock Performance

The company has a market cap of C$2.55 billion, a P/E ratio of -112.91, a PEG ratio of 2.01 and a beta of 0.33. The company has a 50 day moving average price of C$27.36 and a 200-day moving average price of C$29.46. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60.

Boralex (TSE:BLX) last released its earnings results on Friday, November 7th. The company reported C($0.26) EPS for the quarter. The company had revenue of C$157.00 million for the quarter. Boralex had a net margin of 7.55% and a return on equity of 4.29%. Equities analysts expect that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.

Boralex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 15th will be issued a $0.165 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.66 annualized dividend and a dividend yield of 2.7%. Boralex’s dividend payout ratio is -300.00%.

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.