Fortis Inc. (TSE:FTS – Free Report) – Equities researchers at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for shares of Fortis in a research note issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the company will post earnings per share of $0.91 for the quarter. The consensus estimate for Fortis’ current full-year earnings is $3.21 per share.
Fortis (TSE:FTS – Get Free Report) last issued its earnings results on Friday, February 9th. The company reported C$0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.72. The company had revenue of C$2.89 billion for the quarter, compared to the consensus estimate of C$3.22 billion. Fortis had a return on equity of 7.41% and a net margin of 13.66%.
Check Out Our Latest Analysis on Fortis
Fortis Stock Up 0.5 %
Shares of FTS opened at C$53.65 on Thursday. The business’s 50 day moving average is C$53.08 and its 200 day moving average is C$54.18. The company has a market capitalization of C$26.45 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.80 and a beta of 0.17. Fortis has a 12-month low of C$49.82 and a 12-month high of C$62.00. The company has a current ratio of 0.68, a quick ratio of 0.36 and a debt-to-equity ratio of 128.76.
Insider Activity at Fortis
In related news, Senior Officer Ronald Hinsley sold 972 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of C$38.79, for a total transaction of C$37,706.21. In other Fortis news, Senior Officer Ronald Hinsley sold 972 shares of Fortis stock in a transaction on Monday, February 26th. The stock was sold at an average price of C$38.79, for a total transaction of C$37,706.21. Also, Director Brian Slocum bought 1,888 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were purchased at an average cost of C$39.18 per share, with a total value of C$73,971.65. Insiders acquired a total of 2,851 shares of company stock worth $111,115 in the last quarter. 0.04% of the stock is owned by company insiders.
Fortis Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 17th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Thursday, May 16th. Fortis’s payout ratio is currently 76.13%.
About Fortis
Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.
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