Boralex (TSE:BLX) Given New C$26.00 Price Target at Raymond James

Boralex (TSE:BLX) had its price target hoisted by investment analysts at Raymond James from C$25.00 to C$26.00 in a research note issued on Friday, BayStreet.CA reports. Raymond James’ target price suggests a potential upside of 30.26% from the company’s previous close.

BLX has been the topic of several other reports. BMO Capital Markets restated a “buy” rating on shares of Gran Tierra Energy in a research report on Wednesday, June 26th. TD Securities lowered Turquoise Hill Resources from a “buy” rating to a “speculative buy” rating and dropped their price target for the company from C$4.00 to C$2.25 in a research report on Wednesday, July 17th. Finally, CIBC dropped their price target on Peyto Exploration & Development from C$10.00 to C$6.00 in a research report on Wednesday, June 19th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of C$23.71.

Shares of BLX stock traded up C$0.12 during trading hours on Friday, reaching C$19.96. The company’s stock had a trading volume of 66,601 shares, compared to its average volume of 223,479. The company has a market capitalization of $1.78 billion and a PE ratio of -55.35. Boralex has a one year low of C$15.96 and a one year high of C$20.24. The business’s fifty day moving average is C$19.77. The company has a debt-to-equity ratio of 415.22, a current ratio of 0.74 and a quick ratio of 0.63.

Boralex (TSE:BLX) last released its quarterly earnings results on Wednesday, May 8th. The company reported C$0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.30 by C($0.02). The company had revenue of C$172.00 million during the quarter, compared to the consensus estimate of C$173.00 million. Analysts expect that Boralex will post 0.32 earnings per share for the current year.

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, 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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