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 research report sent to investors on Wednesday morning, BayStreet.CA reports. Raymond James currently has C$32.00 price target on the stock.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets lifted their target price on shares of Boralex from C$28.00 to C$29.00 in a research note on Monday, March 2nd. TD Securities lifted their target price 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. Royal Bank of Canada lifted their target price 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. National Bank Financial decreased their target price on shares of Boralex from C$32.00 to C$28.50 and set an outperform rating for the company in a research note on Friday, March 13th. Finally, CIBC lowered shares of Boralex from an outperform rating to a neutral rating and decreased their target price for the company from C$30.00 to C$28.00 in a research note on Friday, March 20th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of C$30.25.

Shares of TSE:BLX traded up C$0.78 during trading on Wednesday, reaching C$25.30. 480,033 shares of the company traded hands, compared to its average volume of 416,013. The firm has a fifty day simple moving average of C$28.53 and a 200 day simple moving average of C$25.06. The firm has a market cap of $2.36 billion and a P/E ratio of -57.02. Boralex has a 1-year low of C$17.91 and a 1-year high of C$32.04. The company has a quick ratio of 1.01, a current ratio of 1.19 and a debt-to-equity ratio of 377.83.

Boralex (TSE:BLX) last issued its earnings results on Friday, February 28th. The company reported C$0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 16th were issued 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 currently -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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