Boralex (TSE:BLX) Upgraded by Raymond James to Strong-Buy

Raymond James upgraded shares of Boralex (TSE:BLX) from an outperform rating to a strong-buy rating in a report published on Wednesday, BayStreet.CA reports. Raymond James currently has C$32.00 price target on the stock.

Several other brokerages have also commented on BLX. CIBC lowered shares of Boralex from an outperform rating to a neutral rating and dropped their price target for the company from C$30.00 to C$28.00 in a research note on Friday, March 20th. TD Securities raised their price target on shares of Boralex from C$28.00 to C$33.00 and gave the company a buy rating in a research note on Tuesday, March 3rd. National Bank Financial dropped their price target on shares of Boralex from C$32.00 to C$28.50 and set an outperform rating on the stock in a research note on Friday, March 13th. Royal Bank of Canada raised their price target on shares of Boralex from C$23.00 to C$31.00 and gave the company a sector perform rating in a research note on Monday, March 2nd. Finally, BMO Capital Markets raised their price objective on shares of Boralex from C$28.00 to C$29.00 in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of C$30.25.

Shares of TSE:BLX traded up C$0.78 during trading hours on Wednesday, hitting C$25.30. The stock had a trading volume of 480,033 shares, compared to its average volume of 416,013. The stock’s fifty day simple moving average is C$28.53 and its 200 day simple moving average is C$25.06. Boralex has a 1-year low of C$17.91 and a 1-year high of C$32.04. The firm has a market capitalization of $2.36 billion and a price-to-earnings ratio of -57.02. The company has a debt-to-equity ratio of 377.83, a quick ratio of 1.01 and a current ratio of 1.19.

Boralex (TSE:BLX) last announced its quarterly earnings results on Friday, February 28th. The company reported C$0.26 EPS for the quarter, missing the consensus estimate of C$0.28 by C($0.02). The business had revenue of C$179.00 million for the quarter, compared to the consensus estimate of C$176.00 million. As a group, research analysts anticipate that Boralex will post 0.45 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 16th were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, February 27th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.61%. Boralex’s dividend payout ratio is presently -153.49%.

About Boralex

Boralex Inc, together with its subsidiaries, develops, constructs, and operates renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2018, the company had interests in 81 wind power stations with an installed capacity of 1,723 megawatts (MW); 15 hydroelectric power stations with a capacity of 156 MW; 2 thermal power stations with an installed capacity of 47 MW; and 3 solar power stations with an installed capacity of 16 MW.

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Analyst Recommendations for Boralex (TSE:BLX)

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