Boralex (TSE:BLX) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Boralex Inc. (TSE:BLX) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$28.68 and traded as high as C$36.86. Boralex shares last traded at C$36.77, with a volume of 392,506 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BLX. Scotiabank lowered their price objective on Boralex from C$41.00 to C$39.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 21st. TD Securities lowered Boralex from a “buy” rating to a “sell” rating and upped their price objective for the company from C$32.00 to C$37.25 in a research note on Thursday, March 26th. National Bank Financial set a C$39.00 price objective on Boralex and gave the company an “outperform” rating in a research note on Tuesday, March 24th. Finally, Canadian Imperial Bank of Commerce lowered their price objective on Boralex from C$37.00 to C$36.00 in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$38.46.

Boralex Stock Performance

The firm has a market capitalization of C$3.78 billion, a P/E ratio of 612.83, a price-to-earnings-growth ratio of 2.01 and a beta of 0.26. The stock has a 50-day moving average of C$33.22 and a 200 day moving average of C$28.68. The company has a debt-to-equity ratio of 323.15, a quick ratio of 1.54 and a current ratio of 1.29.

Boralex (TSE:BLX) last released its quarterly earnings results on Friday, February 27th. The company reported C$0.13 EPS for the quarter. The business had revenue of C$258.00 million for the quarter. Boralex had a return on equity of 0.45% and a net margin of 0.84%. On average, research analysts anticipate that Boralex Inc. will post 1.3383764 earnings per share for the current year.

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.