What is Scotiabank’s Forecast for Fortis FY2026 Earnings?

Fortis Inc. (TSE:FTS) – Investment analysts at Scotiabank boosted their FY2026 earnings estimates for shares of Fortis in a report released on Thursday, February 19th. Scotiabank analyst R. Hope now expects that the company will post earnings of $3.62 per share for the year, up from their previous forecast of $3.61. Scotiabank has a “Sector Perform” rating and a $80.00 price objective on the stock. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share. Scotiabank also issued estimates for Fortis’ FY2027 earnings at $3.84 EPS.

Fortis (TSE:FTS) last released its quarterly earnings results on Thursday, February 12th. The company reported C$0.90 earnings per share for the quarter. The company had revenue of C$3.08 billion during the quarter. Fortis had a net margin of 14.53% and a return on equity of 7.48%.

Other equities analysts have also issued reports about the stock. Raymond James Financial raised their target price on shares of Fortis from C$75.50 to C$78.50 and gave the company an “outperform” rating in a report on Friday, February 13th. National Bank Financial lifted their price objective on shares of Fortis from C$68.00 to C$72.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th. BMO Capital Markets upped their target price on Fortis from C$74.00 to C$77.00 and gave the stock a “market perform” rating in a research note on Friday, February 13th. Canadian Imperial Bank of Commerce boosted their price target on Fortis from C$75.00 to C$76.00 in a report on Wednesday, December 17th. Finally, Jefferies Financial Group reduced their price objective on Fortis from C$72.00 to C$70.00 in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$75.65.

Fortis Stock Up 0.3%

Shares of TSE FTS opened at C$77.38 on Friday. The stock has a market capitalization of C$39.26 billion, a P/E ratio of 22.76, a PEG ratio of 3.01 and a beta of 0.35. The stock’s fifty day moving average is C$72.52 and its 200 day moving average is C$71.16. Fortis has a 52 week low of C$61.32 and a 52 week high of C$78.07. The company has a debt-to-equity ratio of 142.31, a quick ratio of 0.36 and a current ratio of 0.74.

Fortis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Sunday, March 1st will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, February 17th. Fortis’s dividend payout ratio (DPR) is presently 73.09%.

About Fortis

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S. states, with more than 16,000 miles of high-voltage transmission lines in operation serving a peak load in excess of 23 gigawatts.