Boralex (TSE:BLX) Hits New 52-Week Low – Here’s Why

Boralex Inc. (TSE:BLX)’s share price reached a new 52-week low on Thursday . The company traded as low as C$24.40 and last traded at C$24.45, with a volume of 392502 shares traded. The stock had previously closed at C$25.75.

Analysts Set New Price Targets

Several equities analysts recently commented on BLX shares. Scotiabank cut their target price on shares of Boralex from C$36.00 to C$35.00 and set a “sector perform” rating for the company in a research note on Monday, August 11th. CIBC dropped their target price on Boralex from C$39.00 to C$38.00 in a research report on Monday, November 10th. National Bankshares lowered their price target on shares of Boralex from C$43.00 to C$41.00 and set an “outperform” rating for the company in a research report on Monday, August 11th. Royal Bank Of Canada reduced their price target on Boralex from C$38.00 to C$36.00 in a research report on Monday, November 10th. Finally, Desjardins cut their price target on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Boralex currently has an average rating of “Buy” and an average target price of C$38.22.

Boralex Trading Up 2.0%

The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60. The stock’s 50 day moving average is C$27.58 and its two-hundred day moving average is C$29.71. The company has a market capitalization of C$2.55 billion, a PE ratio of -112.95, a price-to-earnings-growth ratio of 2.01 and a beta of 0.33.

Boralex (TSE:BLX) last posted its quarterly earnings results on Friday, November 7th. The company reported C($0.26) EPS for the quarter. Boralex had a net margin of 7.55% and a return on equity of 4.29%. The business had revenue of C$301.00 million during the quarter. As a group, sell-side analysts predict that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.

Boralex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 15th were paid a $0.165 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.66 dividend on an annualized basis and a yield of 2.7%. Boralex’s payout ratio is -300.00%.

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.