Boralex Inc reports results for the quarter ended March 31 - Earnings Summary

• Boralex Inc BLX.TO reported quarterly adjusted earnings of 29 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of 53 cents. The mean expectation of five analysts for the quarter was for earnings of 49 cents per share. Wall Street expected results to range from 39 cents to 19 cents per share.

• Revenue fell 12.7% to C$185.00 million from a year ago; analysts expected C$267.97 million.

• Boralex Inc's reported EPS for the quarter was 29 cents​.

• The company reported quarterly net income of C$30 million.

• Boralex Inc shares had fallen by 3.3% this quarter and gained 6.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 218.3% in the last three months.​

• In the last 30 days, four analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell." The average consensus recommendation for the electric utilities peer group is also "buy"

• Wall Street's median 12-month price target for Boralex Inc is C$38.50, about 20.5% above its last closing price of C$30.61

This summary was machine generated from LSEG data August 8 at 01:40 p.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)