Boralex (TSE:BLX) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened
by Jessica Moore · The Cerbat GemShares of Boralex Inc. (TSE:BLX – Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$29.35 and traded as high as C$36.96. Boralex shares last traded at C$36.89, with a volume of 492,316 shares trading hands.
Analysts Set New Price Targets
BLX has been the subject of several recent analyst reports. Raymond James Financial cut shares of Boralex from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from C$38.00 to C$37.25 in a research report on Friday, May 15th. National Bank Financial set a C$39.00 target price on shares of Boralex and gave the company an “outperform” rating in a research report on Tuesday, March 24th. Royal Bank Of Canada upped their price target on shares of Boralex from C$33.00 to C$37.25 and gave the stock a “sector perform” rating in a report on Tuesday, May 12th. Finally, TD Securities cut shares of Boralex from a “buy” rating to a “sell” rating and lifted their price objective for the company from C$32.00 to C$37.25 in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$38.39.
Read Our Latest Analysis on Boralex
Boralex Stock Up 0.1%
The company has a quick ratio of 1.54, a current ratio of 1.24 and a debt-to-equity ratio of 309.98. The firm has a 50 day moving average of C$35.34 and a two-hundred day moving average of C$29.35. The firm has a market capitalization of C$3.79 billion, a price-to-earnings ratio of -119.00, a price-to-earnings-growth ratio of 2.01 and a beta of 0.26.
Boralex (TSE:BLX – Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported C($0.08) EPS for the quarter. The business had revenue of C$286.00 million for the quarter. Boralex had a negative return on equity of 2.08% and a negative net margin of 3.56%. As a group, sell-side analysts anticipate that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.
Boralex Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 15th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, May 29th. Boralex’s dividend payout ratio is currently -212.90%.
Boralex Company Profile
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. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.