Boralex (TSE:BLX) Share Price Passes Above 200-Day Moving Average of $20.05

Shares of Boralex Inc. (TSE:BLX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $20.05 and traded as high as $22.32. Boralex shares last traded at $22.26, with a volume of 108,039 shares.

A number of research firms recently commented on BLX. TD Securities boosted their price objective on shares of Boralex from C$22.00 to C$24.00 in a report on Wednesday, July 17th. Raymond James reissued an “outperform” rating and set a C$26.00 price objective on shares of Boralex in a report on Friday, August 9th. CIBC boosted their price objective on shares of Boralex from C$23.50 to C$24.00 in a report on Wednesday, June 19th. Finally, BMO Capital Markets boosted their price objective on shares of Boralex from C$23.00 to C$26.00 in a report on Monday, September 9th. Five research analysts have rated the stock with a buy rating, Boralex has an average rating of “Buy” and a consensus target price of C$24.50.

The stock has a market cap of $2.02 billion and a PE ratio of -156.34. The business’s fifty day moving average is C$22.10 and its 200 day moving average is C$20.05. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 436.91.

Boralex (TSE:BLX) last announced its quarterly earnings results on Thursday, August 8th. The company reported C($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.17) by C$0.03. The business had revenue of C$121.00 million during the quarter, compared to analysts’ expectations of C$121.00 million. As a group, analysts predict that Boralex Inc. will post 0.2911767 EPS for the current year.

About Boralex (TSE:BLX)

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.

Further Reading: What are popular range trading strategies?

Receive News & Ratings for Boralex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boralex and related companies with MarketBeat.com's FREE daily email newsletter.