Boralex Inc. (TSE:BLX – Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$32.50 and traded as high as C$37.09. Boralex shares last traded at C$37.03, with a volume of 765,387 shares trading hands.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada raised their target price 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. National Bank Financial set a C$39.00 price target on shares of Boralex and gave the stock an “outperform” rating in a research note on Tuesday, March 24th. Raymond James Financial downgraded shares of Boralex from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from C$38.00 to C$37.25 in a research report on Friday, May 15th. Finally, TD Securities lowered shares of 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 research note on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Boralex currently has an average rating of “Moderate Buy” and an average target price of C$38.39.
View Our Latest Stock Analysis on BLX
Boralex Trading Up 0.1%
Boralex (TSE:BLX – Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported C($0.08) EPS for the quarter. Boralex had a negative return on equity of 2.08% and a negative net margin of 3.56%.The firm had revenue of C$286.00 million for the quarter. On average, research analysts expect that Boralex Inc. will post 1.3383764 EPS for the current year.
Boralex Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were given a $0.165 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.66 annualized dividend and a yield of 1.8%. Boralex’s dividend payout ratio is presently -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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