Scotiabank Has Strong Forecast for Fortis FY2026 Earnings

Fortis Inc. (TSE:FTS) – Investment analysts at Scotiabank lifted their FY2026 earnings per share estimates for shares of Fortis in a note issued to investors on Thursday, September 10th. Scotiabank analyst R. Hope now anticipates that the company will post earnings of $3.63 per share for the year, up from their prior estimate of $3.62. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

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

Other analysts also recently issued reports about the stock. Canadian Imperial Bank of Commerce downgraded shares of Fortis from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Desjardins raised their target price on shares of Fortis from C$81.00 to C$85.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, National Bank Financial boosted their target price on shares of Fortis from C$75.00 to C$82.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$79.68.

Fortis Price Performance

Shares of TSE:FTS opened at C$75.27 on Monday. Fortis has a twelve month low of C$67.15 and a twelve month high of C$83.75. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 143.60. 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 company’s 50 day moving average is C$78.88 and its 200 day moving average is C$78.46.

Fortis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, September 1st were given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.4%. The ex-dividend date 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.