Fortis Inc (TSE:FTS) – Investment analysts at National Bank Financial raised their FY2020 EPS estimates for Fortis in a report issued on Wednesday, September 23rd. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings of $2.61 per share for the year, up from their previous forecast of $2.55. National Bank Financial has a “Sector Perform” rating and a $61.00 price target on the stock.
Several other research firms have also recently weighed in on FTS. Raymond James set a C$58.00 price objective on shares of Fortis and gave the stock an “outperform” rating in a research report on Thursday. BMO Capital Markets lifted their price objective on shares of Fortis from C$56.00 to C$59.00 in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Fortis from C$55.00 to C$54.00 in a research report on Monday, September 21st. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Fortis currently has a consensus rating of “Buy” and an average price target of C$60.25.
TSE FTS opened at C$53.79 on Monday. The stock has a market capitalization of $24.99 billion and a P/E ratio of 20.23. Fortis has a 1 year low of C$41.52 and a 1 year high of C$59.28. The business’s fifty day moving average is C$52.93 and its two-hundred day moving average is C$52.58. The company has a debt-to-equity ratio of 118.03, a quick ratio of 0.46 and a current ratio of 0.71.
Fortis (TSE:FTS) last posted its quarterly earnings results on Thursday, July 30th. The company reported C$0.56 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of C$0.56. The company had revenue of C$2.08 billion during the quarter, compared to the consensus estimate of C$2.07 billion.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.4775 per share. This represents a $1.91 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Tuesday, August 18th. Fortis’s dividend payout ratio is currently 70.80%.
About Fortis
Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona’s Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.
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