Fortis (TSE:FTS) Stock Rating Cut to "Market Perform" at Raymond James Financial

Key Points

• Raymond James downgraded Fortis from “outperform” to “market perform,” while raising its price target from C$85.50 to C$86.50—about 1.75% above the prior close.
• Analyst views remain mixed: four analysts rate Fortis a “buy” and six rate it a “hold”; MarketBeat reports an average price target of C$81.68.
• Fortis reported quarterly EPS of C$0.92 and revenue of C$3.12 billion.

Fortis (TSE:FTS - Get Free Report) was downgraded by equities researchers at Raymond James Financial from an "outperform" rating to a "market perform" rating in a report released on Wednesday, BayStreet reports. They currently have a C$86.50 price objective on the stock, up from their previous price objective of C$85.50. Raymond James Financial's price target points to a potential upside of 1.75% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Desjardins boosted their target price on shares of Fortis from C$85.00 to C$90.00 and gave the stock a "buy" rating in a research note on Wednesday. Canadian Imperial Bank of Commerce dropped their price target on Fortis from C$82.00 to C$78.00 in a research note on Tuesday, September 22nd. BMO Capital Markets raised their price objective on Fortis from C$81.00 to C$85.00 and gave the company a "market perform" rating in a report on Wednesday. TD boosted their price objective on Fortis from C$87.00 to C$90.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, National Bank Financial upped their target price on Fortis from C$83.00 to C$84.00 and gave the stock a "sector perform" rating in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of C$81.68.

Fortis Price Performance

Shares of FTS traded up C$1.43 during mid-day trading on Wednesday, reaching C$85.01. The company had a trading volume of 1,225,924 shares, compared to its average volume of 1,598,645. The company has a market capitalization of C$43.43 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 3.01 and a beta of 0.34. The company has a debt-to-equity ratio of 143.60, a quick ratio of 0.36 and a current ratio of 0.56. The company's 50 day simple moving average is C$77.08 and its 200 day simple moving average is C$77.70. Fortis has a 1-year low of C$69.06 and a 1-year high of C$85.19.

Fortis (TSE:FTS - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported C$0.92 earnings per share (EPS) for the quarter. The business had revenue of C$3.12 billion during the quarter. Fortis had a net margin of 14.72% and a return on equity of 7.43%. Analysts expect that Fortis will post 3.34 EPS for the current year.

Fortis Company Profile

Fortis is a diversified leader in the North American regulated electric and gas utility industry with 2025 revenue of $12 billion and total assets of $79 billion as at June 30, 2026. The Corporation's 9,900 employees serve utility customers in five Canadian provinces, ten U.S. states and the Cayman Islands.

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