Boralex (TSE:BLX) Stock Rating Reaffirmed by BMO Capital Markets
BMO Capital Markets reissued their outperform rating on shares of Boralex (TSE:BLX) in a report issued on Thursday morning, BayStreet.CA reports. They currently have a C$22.00 price objective on the stock.
A number of other brokerages also recently weighed in on BLX. CIBC boosted their price target on Boralex from C$23.50 to C$24.00 in a report on Wednesday, June 19th. Raymond James downgraded Boralex from a strong-buy rating to an outperform rating in a research note on Tuesday, April 23rd. National Bank Financial upped their price objective on Boralex from C$24.00 to C$25.00 and gave the stock an outperform rating in a research note on Tuesday, March 19th. Finally, TD Securities upped their price objective on Boralex from C$21.00 to C$22.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of C$23.14.
Shares of TSE BLX opened at C$20.11 on Thursday. Boralex has a twelve month low of C$15.96 and a twelve month high of C$21.24. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 415.22. The company has a market capitalization of $1.79 billion and a PE ratio of -55.71.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 17th were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, May 30th. This represents a $0.66 dividend on an annualized basis and a yield of 3.28%. Boralex’s payout ratio is currently -178.67%.
Boralex Inc, together with its subsidiaries, develops, constructs, and operates renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2018, the company had interests in 81 wind power stations with an installed capacity of 1,723 megawatts (MW); 15 hydroelectric power stations with a capacity of 156 MW; 2 thermal power stations with an installed capacity of 47 MW; and 3 solar power stations with an installed capacity of 16 MW.
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