FY2027 Earnings Estimate for Fortis Issued By Scotiabank

Fortis Inc. (TSE:FTS) – Analysts at Scotiabank lowered their FY2027 earnings per share (EPS) estimates for Fortis in a note issued to investors on Thursday, September 10th. Scotiabank analyst R. Hope now expects that the company will earn $3.83 per share for the year, down from their previous estimate of $3.84. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

Fortis (TSE:FTS) last announced its earnings results on Friday, July 31st. The company reported C$0.78 earnings per share (EPS) for the quarter. The business had revenue of C$2.93 billion for the quarter. Fortis had a net margin of 14.72% and a return on equity of 7.43%.

A number of other research analysts have also commented on FTS. Desjardins upped their price objective on shares of Fortis from C$81.00 to C$85.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Canadian Imperial Bank of Commerce cut Fortis from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Finally, National Bank Financial raised their price objective on Fortis from C$75.00 to C$82.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$79.68.

Fortis Price Performance

Shares of Fortis stock opened at C$75.27 on Tuesday. The company has a debt-to-equity ratio of 143.60, a current ratio of 0.56 and a quick ratio of 0.36. The company has a market cap of C$38.46 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 3.01 and a beta of 0.34. The firm has a fifty day moving average price of C$78.88 and a two-hundred day moving average price of C$78.46. Fortis has a fifty-two week low of C$67.15 and a fifty-two week high of C$83.75.

Fortis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, September 1st were issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 19th. Fortis’s dividend payout ratio (DPR) is currently 74.56%.

Fortis Company Profile

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.