FY2024 EPS Estimates for Boralex Inc. (TSE:BLX) Raised by Cormark

Boralex Inc. (TSE:BLX) – Stock analysts at Cormark upped their FY2024 EPS estimates for Boralex in a research note issued on Thursday, August 15th. Cormark analyst N. Boychuk now forecasts that the company will post earnings of $1.38 per share for the year, up from their prior estimate of $1.08. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. Cormark also issued estimates for Boralex’s FY2025 earnings at $1.55 EPS.

A number of other analysts have also recently weighed in on BLX. Royal Bank of Canada boosted their target price on shares of Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Scotiabank boosted their target price on shares of Boralex from C$38.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. National Bankshares lifted their price target on shares of Boralex from C$43.00 to C$46.00 in a report on Monday, July 8th. Cibc World Mkts upgraded shares of Boralex to a “strong-buy” rating in a report on Monday, July 22nd. Finally, Desjardins lifted their price target on shares of Boralex from C$44.00 to C$46.00 and gave the stock a “top pick” rating in a report on Friday, June 21st. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$42.90.

Boralex Stock Performance

TSE BLX opened at C$33.29 on Monday. The firm’s fifty day moving average price is C$33.88 and its two-hundred day moving average price is C$31.31. The stock has a market cap of C$3.42 billion, a PE ratio of 35.80, a PEG ratio of 0.94 and a beta of 0.41. Boralex has a fifty-two week low of C$25.40 and a fifty-two week high of C$36.68. The company has a debt-to-equity ratio of 174.81, a quick ratio of 1.54 and a current ratio of 0.95.

Boralex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Friday, August 30th will be issued a $0.165 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.66 annualized dividend and a yield of 1.98%. Boralex’s payout ratio is 70.97%.

About Boralex

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.