What is Scotiabank’s Forecast for Fortis FY2027 Earnings?

Fortis Inc. (TSE:FTS) – Stock analysts at Scotiabank decreased their FY2027 earnings per share (EPS) estimates for Fortis in a research note issued on Thursday, May 14th. Scotiabank analyst R. Hope now expects that the company will earn $3.84 per share for the year, down from their prior forecast of $3.85. 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.

A number of other equities analysts have also commented on the company. BMO Capital Markets boosted their price objective 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. TD lifted their price target on Fortis from C$83.00 to C$84.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Desjardins upped their price target on shares of Fortis from C$79.00 to C$81.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. National Bank Financial increased their price objective on shares of Fortis from C$74.00 to C$75.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Finally, Barclays lowered their price objective on shares of Fortis from C$84.00 to C$83.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Fortis currently has a consensus rating of “Moderate Buy” and an average price target of C$78.68.

Fortis Price Performance

TSE:FTS opened at C$76.80 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 145.23. The firm has a market cap of C$39.10 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 3.01 and a beta of 0.47. Fortis has a 12 month low of C$63.54 and a 12 month high of C$80.69. The company’s 50-day moving average price is C$77.68 and its two-hundred day moving average price is C$74.63.

Fortis (TSE:FTS) last issued its earnings results on Wednesday, May 6th. The company reported C$0.99 EPS for the quarter. The company had revenue of C$3.40 billion for the quarter. Fortis had a net margin of 14.75% and a return on equity of 7.51%.

Fortis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, May 15th. Fortis’s dividend payout ratio is 74.04%.

Insider Transactions at Fortis

In related news, insider Karen J. Gosse sold 8,412 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of C$78.18, for a total value of C$657,650.16. Following the transaction, the insider owned 52,228 shares in the company, valued at C$4,083,185.04. This trade represents a 13.87% decrease in their ownership of the stock. 0.04% of the stock is currently owned by corporate insiders.

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.