Boralex (TSE:BLX) was upgraded by equities researchers at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has a C$32.00 price objective on the stock. Raymond James’ target price would indicate a potential upside of 26.48% from the stock’s current price.
A number of other analysts have also commented on BLX. TD Securities upped their price objective 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. CIBC lowered shares of Boralex from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from C$30.00 to C$28.00 in a research note on Friday, March 20th. Royal Bank of Canada increased their price target on shares of Boralex from C$23.00 to C$31.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. National Bank Financial reduced their price target on shares of Boralex from C$32.00 to C$28.50 and set an “outperform” rating for the company in a research report on Friday, March 13th. Finally, BMO Capital Markets increased their price target on shares of Boralex from C$28.00 to C$29.00 in a research report on Monday, March 2nd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Boralex currently has an average rating of “Buy” and an average price target of C$30.25.
BLX stock opened at C$25.30 on Wednesday. The company has a current ratio of 1.19, a quick ratio of 1.01 and a debt-to-equity ratio of 377.83. Boralex has a one year low of C$17.91 and a one year high of C$32.04. The firm has a market capitalization of $2.36 billion and a PE ratio of -58.84. The firm has a 50-day moving average of C$28.48 and a two-hundred day moving average of C$25.08.
Boralex (TSE:BLX) last posted its quarterly earnings data on Friday, February 28th. The company reported C$0.26 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. On average, equities research analysts anticipate that Boralex will post 0.45 earnings per share for the current year.
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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