Boralex Inc. (TSE:BLX – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$30.50 and traded as high as C$36.88. Boralex shares last traded at C$36.86, with a volume of 244,528 shares changing hands.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the company. National Bank Financial set a C$39.00 price target on Boralex and gave the company an “outperform” rating in a report on Tuesday, March 24th. Raymond James Financial lowered Boralex from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from C$38.00 to C$37.25 in a report on Friday, May 15th. Royal Bank Of Canada boosted their target price on Boralex from C$33.00 to C$37.25 and gave the stock a “sector perform” rating in a report on Tuesday, May 12th. Finally, TD Securities lowered Boralex from a “buy” rating to a “sell” rating and boosted their target price for the stock from C$32.00 to C$37.25 in a report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$38.39.
View Our Latest Report on Boralex
Boralex Stock Performance
Boralex (TSE:BLX – Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported C($0.08) earnings per share for the quarter. Boralex had a negative return on equity of 2.08% and a negative net margin of 3.56%.The company had revenue of C$286.00 million during the quarter. On average, research analysts expect that Boralex Inc. will post 1.3383764 EPS for the current year.
Boralex Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, May 29th. Boralex’s payout ratio is currently -212.90%.
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.
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