FY2026 Earnings Forecast for Fortis Issued By Scotiabank

Key Points

• Scotiabank lowered its FY2026 EPS forecast for Fortis to $2.55 from $2.63 and maintained a “Sector Perform” rating. Its FY2027 estimate is $2.67, compared with the current-year consensus estimate of $2.56.
• Fortis recently reported quarterly EPS of $0.56, slightly exceeding analysts’ $0.55 estimate, but revenue of $1.67 billion fell short of the $1.83 billion expectation and declined from the prior year.
• The stock has a consensus “Hold” rating and a $65 target price. Fortis pays a quarterly C$0.64 dividend, equivalent to a 4.8% yield, while institutional investors own 57.77% of its shares.

Fortis (NYSE:FTS - Free Report) - Research analysts at Scotiabank cut their FY2026 earnings per share (EPS) estimates for shares of Fortis in a research report issued to clients and investors on Thursday, October 1st. Scotiabank analyst R. Hope now forecasts that the utilities provider will post earnings of $2.55 per share for the year, down from their prior estimate of $2.63. Scotiabank currently has a "Sector Perform" rating on the stock. The consensus estimate for Fortis' current full-year earnings is $2.56 per share. Scotiabank also issued estimates for Fortis' FY2027 earnings at $2.67 EPS.

Fortis (NYSE:FTS - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The utilities provider reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.01. Fortis had a return on equity of 7.16% and a net margin of 14.17%.The business had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter in the prior year, the business earned $0.76 EPS.

A number of other research firms have also recently issued reports on FTS. BMO Capital Markets restated a "market perform" rating on shares of Fortis in a research note on Monday, August 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Fortis in a research note on Friday, July 17th. Canadian Imperial Bank of Commerce cut shares of Fortis from an "outperform" rating to a "hold" rating in a report on Friday, July 17th. Royal Bank Of Canada raised their price objective on shares of Fortis from $80.00 to $89.00 and gave the stock a "sector perform" rating in a research report on Monday, August 3rd. Finally, TD Securities restated a "buy" rating on shares of Fortis in a report on Tuesday, August 4th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Fortis currently has a consensus rating of "Hold" and a consensus target price of $65.00.

Fortis Price Performance

NYSE:FTS opened at $52.84 on Monday. Fortis has a one year low of $49.60 and a one year high of $59.40. The company has a market cap of $27.14 billion, a P/E ratio of 21.39 and a beta of 0.42. The firm's fifty day moving average price is $55.18 and its two-hundred day moving average price is $56.12. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.56 and a quick ratio of 0.47.

Fortis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were issued a C$0.64 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.56 annualized dividend and a yield of 4.8%. Fortis's payout ratio is currently 73.68%.

Institutional Trading of Fortis

Institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc raised its stake in Fortis by 5.9% in the third quarter. Versant Capital Management Inc now owns 11,600 shares of the utilities provider's stock valued at $613,000 after purchasing an additional 643 shares in the last quarter. Andra AP fonden lifted its position in Fortis by 33.0% during the second quarter. Andra AP fonden now owns 170,399 shares of the utilities provider's stock worth $9,752,000 after purchasing an additional 42,300 shares during the period. Sequoia Financial Advisors LLC grew its stake in Fortis by 3.9% during the second quarter. Sequoia Financial Advisors LLC now owns 20,445 shares of the utilities provider's stock worth $1,170,000 after buying an additional 765 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Fortis during the second quarter worth about $69,000. Finally, Baird Financial Group Inc. increased its holdings in Fortis by 6.8% in the 2nd quarter. Baird Financial Group Inc. now owns 36,560 shares of the utilities provider's stock valued at $2,092,000 after buying an additional 2,343 shares during the period. 57.77% of the stock is currently owned by institutional investors.

Fortis Company Profile

Fortis Inc NYSE: FTS is a regulated electric and gas utility holding company headquartered in St. John's, Newfoundland and Labrador, Canada. Through its operating utilities, the company generates, transmits and distributes electricity and provides natural gas distribution services to residential, commercial and industrial customers.

Fortis operates a portfolio of utility businesses across Canada, the United States and the Caribbean. Its regulated operations include electric utilities in several Canadian provinces, U.S.

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