Research Analysts Issue Forecasts for Fortis FY2025 Earnings

Key Points

• Desjardins has raised its FY2025 earnings estimate for Fortis Inc. to $3.47 per share, up from the previous $3.41, maintaining a "Buy" rating and a $76.00 price target.
• Fortis has announced a quarterly dividend of $0.615 per share, representing an annualized dividend of $2.46 with a yield of 3.5%.
• Various analysts have adjusted their price targets for Fortis, with TD Securities increasing it to C$77.00, while the overall average target sits at C$68.82.

Fortis Inc. (TSE:FTS - Free Report) - Research analysts at Desjardins increased their FY2025 earnings per share (EPS) estimates for Fortis in a research report issued on Tuesday, August 5th. Desjardins analyst B. Stadler now expects that the company will post earnings per share of $3.47 for the year, up from their prior forecast of $3.41. Desjardins has a "Buy" rating and a $76.00 price objective on the stock. The consensus estimate for Fortis' current full-year earnings is $3.34 per share. Desjardins also issued estimates for Fortis' FY2026 earnings at $3.65 EPS and FY2027 earnings at $3.92 EPS.

Several other equities analysts have also commented on FTS. Raymond James Financial raised their price target on Fortis from C$69.00 to C$72.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Jefferies Financial Group raised their price target on Fortis from C$67.00 to C$70.00 in a research note on Monday, April 14th. National Bankshares raised their price target on Fortis from C$65.00 to C$67.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 5th. TD Securities raised their price target on Fortis from C$74.00 to C$77.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Cibc World Mkts upgraded Fortis from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of C$68.82.

Fortis Stock Up 0.1%

Shares of Fortis stock traded up C$0.07 during trading on Wednesday, hitting C$69.91. 1,124,435 shares of the stock traded hands, compared to its average volume of 1,647,581. The firm has a market cap of C$34.59 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31. Fortis has a 52-week low of C$57.98 and a 52-week high of C$70.96. The stock's fifty day simple moving average is C$65.73 and its 200 day simple moving average is C$65.02.

Fortis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Monday, September 1st will be given a dividend of $0.615 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $2.46 dividend on an annualized basis and a yield of 3.5%. Fortis's dividend payout ratio (DPR) is presently 73.02%.

About Fortis

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.