Boralex (TSE:BLX) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Boralex (TSE:BLXGet Rating) issued its quarterly earnings data on Wednesday. The company reported C$0.10 earnings per share for the quarter, topping the consensus estimate of C$0.08 by C$0.02, reports. The business had revenue of C$168.00 million during the quarter, compared to the consensus estimate of C$176.80 million.

Boralex Stock Up 1.9 %

Shares of Boralex stock opened at C$49.38 on Friday. The company has a debt-to-equity ratio of 288.00, a current ratio of 1.10 and a quick ratio of 0.97. Boralex has a 1 year low of C$30.04 and a 1 year high of C$49.72. The firm’s 50-day moving average is C$43.01 and its two-hundred day moving average is C$39.19. The stock has a market cap of C$5.07 billion and a price-to-earnings ratio of 159.29.

Boralex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 16th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.34%. The ex-dividend date is Tuesday, August 30th. Boralex’s dividend payout ratio is presently 212.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Raymond James increased their price objective on shares of Boralex from C$51.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada increased their price objective on shares of Boralex from C$41.00 to C$48.00 and gave the company a “sector perform” rating in a research note on Thursday. TD Securities increased their target price on shares of Boralex from C$50.00 to C$55.00 and gave the company a “buy” rating in a research report on Thursday. CSFB downgraded shares of Boralex from an “outperform” rating to a “neutral” rating in a research report on Monday, July 11th. Finally, BMO Capital Markets raised their price objective on shares of Boralex from C$45.00 to C$50.00 in a report on Thursday. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Boralex currently has an average rating of “Moderate Buy” and a consensus target price of C$48.00.

About Boralex

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Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2021, the company had interests in 90 wind power stations with an installed capacity of 2,032 megawatts (MW); 16 hydroelectric power stations with a capacity of 181 MW; 12 solar power stations with an installed capacity of 244 MW; and one thermal power station with an installed capacity of 35 MW.

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Earnings History for Boralex (TSE:BLX)

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