Boralex Inc. (TSE:BLX – Get Free Report)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$37.04 and last traded at C$36.95, with a volume of 627096 shares. The stock had previously closed at C$36.90.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. TD Securities cut Boralex from a “buy” rating to a “sell” rating and lifted their price objective for the company from C$32.00 to C$37.25 in a report on Thursday, March 26th. National Bank Financial set a C$39.00 price target on Boralex and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Raymond James Financial cut Boralex from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from C$38.00 to C$37.25 in a research report on Friday, May 15th. Finally, Royal Bank Of Canada upped their price objective on shares of Boralex from C$33.00 to C$37.25 and gave the stock a “sector perform” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Boralex has a consensus rating of “Moderate Buy” and an average price target of C$38.39.
Get Our Latest Stock Report on Boralex
Boralex Trading Down 0.2%
Boralex (TSE:BLX – Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported C($0.08) earnings per share for the quarter. Boralex had a negative net margin of 3.56% and a negative return on equity of 2.08%. The business had revenue of C$286.00 million during the quarter. Equities analysts expect that Boralex Inc. will post 1.3383764 earnings per share for the current year.
Boralex Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were paid a $0.165 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.66 annualized dividend and a yield of 1.8%. Boralex’s dividend payout ratio (DPR) is -212.90%.
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.
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