Boralex (TSE:BLX) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Boralex Inc. (TSE:BLX) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$32.71 and traded as high as C$33.70. Boralex shares last traded at C$33.47, with a volume of 195,964 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Cibc World Mkts raised shares of Boralex to a “strong-buy” rating in a research report on Monday, July 22nd. National Bankshares increased their price target on Boralex from C$43.00 to C$46.00 in a research report on Monday, July 8th. BMO Capital Markets raised their price objective on Boralex from C$39.00 to C$46.00 in a research note on Thursday, September 5th. Raymond James upped their target price on Boralex from C$38.00 to C$41.00 in a research report on Thursday, August 15th. Finally, CIBC raised their price target on Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$43.50.

Boralex Trading Down 0.1 %

The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. The firm has a 50-day moving average of C$34.20 and a two-hundred day moving average of C$32.75. The firm has a market capitalization of C$3.43 billion, a P/E ratio of 35.94, a P/E/G ratio of 2.01 and a beta of 0.46.

Boralex (TSE:BLX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported C$0.10 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.04 by C$0.06. The company had revenue of C$180.00 million for the quarter, compared to the consensus estimate of C$211.65 million. Boralex had a net margin of 9.91% and a return on equity of 6.69%. On average, analysts anticipate that Boralex Inc. will post 1.3383764 EPS for the current year.

Boralex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.66 annualized dividend and a dividend yield of 1.97%. Boralex’s dividend payout ratio (DPR) is presently 70.97%.

Boralex Company Profile

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.