CIBC Lowers Boralex (TSE:BLX) Price Target to C$36.00

Boralex (TSE:BLX) had its target price lowered by stock analysts at CIBC from C$37.00 to C$36.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 38.67% from the company’s current price.

Several other analysts have also recently weighed in on BLX. Scotiabank lowered their price objective on shares of Boralex from C$35.00 to C$31.00 in a research report on Tuesday, December 16th. Desjardins reduced their price objective on Boralex from C$45.00 to C$43.00 and set a “top pick” rating on the stock in a research note on Tuesday, October 28th. Finally, Royal Bank Of Canada decreased their target price on shares of Boralex from C$38.00 to C$36.00 in a research note on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, Boralex presently has an average rating of “Buy” and a consensus target price of C$38.44.

Boralex Price Performance

Boralex stock traded down C$0.85 during midday trading on Wednesday, hitting C$25.96. 591,924 shares of the company’s stock were exchanged, compared to its average volume of 436,694. The company has a market cap of C$2.67 billion, a P/E ratio of -118.00, a PEG ratio of 2.01 and a beta of 0.44. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. The stock has a 50-day moving average price of C$25.46 and a two-hundred day moving average price of C$27.83. Boralex has a 52-week low of C$23.48 and a 52-week high of C$33.30.

Boralex (TSE:BLX) last issued its quarterly earnings results on Friday, November 7th. The company reported C($0.26) earnings per share (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$157.00 million for the quarter. On average, equities research analysts forecast that Boralex will post 1.3383764 earnings per share for the current year.

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.