Boralex Inc. (TSE:BLX) Given Consensus Rating of “Buy” by Brokerages

Shares of Boralex Inc. (TSE:BLX) have received an average recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$38.22.

A number of equities analysts recently weighed in on the stock. Desjardins lowered their price objective 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. Royal Bank Of Canada reduced their price objective on shares of Boralex from C$38.00 to C$36.00 in a research report on Monday. National Bankshares lowered their price objective on Boralex from C$43.00 to C$41.00 and set an “outperform” rating on the stock in a report on Monday, August 11th. CIBC cut their target price on Boralex from C$39.00 to C$38.00 in a research note on Monday. Finally, Scotiabank reduced their price target on Boralex from C$36.00 to C$35.00 and set a “sector perform” rating for the company in a report on Monday, August 11th.

Boralex Price Performance

Shares of BLX opened at C$28.17 on Friday. The firm has a 50-day simple moving average of C$27.84 and a 200-day simple moving average of C$29.95. Boralex has a fifty-two week low of C$24.40 and a fifty-two week high of C$33.61. The company has a market capitalization of C$2.89 billion, a price-to-earnings ratio of -313.00, a price-to-earnings-growth ratio of 2.01 and a beta of 0.33. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86.

Boralex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 15th were issued 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 2.3%. Boralex’s dividend payout ratio (DPR) is -733.33%.

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.