Boralex (BLX) Reaches New 12-Month Low at $22.20

Boralex (TSE:BLX) shares hit a new 52-week low during trading on Wednesday . The company traded as low as C$22.20 and last traded at C$22.30, with a volume of 78715 shares trading hands. The stock had previously closed at C$22.61.

A number of brokerages have commented on BLX. TD Securities increased their price target on shares of Boralex from C$26.00 to C$27.00 in a research report on Thursday, May 10th. National Bank Financial increased their price target on shares of Boralex from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research report on Monday, April 23rd. BMO Capital Markets reissued an “outperform” rating and set a C$25.50 price objective on shares of Boralex in a research note on Monday, April 23rd. Desjardins increased their price objective on Boralex from C$25.50 to C$26.00 in a research note on Monday, April 23rd. Finally, Industrial Alliance Securities lowered Boralex from a “buy” rating to a “hold” rating and set a C$25.00 price objective for the company. in a research note on Friday, January 26th.

Boralex (TSE:BLX) last released its quarterly earnings data on Friday, March 2nd. The company reported C$0.32 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.24 by C$0.08. The firm had revenue of C$129.00 million during the quarter, compared to analyst estimates of C$133.70 million. Boralex had a return on equity of 13.67% and a net margin of 20.61%.

Boralex Company Profile

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, 2017, the company had interests in 55 wind power stations with an installed capacity of 1,237 megawatts (MW); 15 hydroelectric power stations with a capacity of 172 MW; 2 thermal power stations with an installed capacity of 47 MW; and 3 solar power facilities with an installed capacity of 16 MW.

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