Scotiabank Analysts Increase Earnings Estimates for Fortis

Key Points

• Scotiabank raised its FY2026 EPS estimate for Fortis to C$3.63 from C$3.62, above the broader consensus estimate of C$3.34.
• Fortis reported quarterly EPS of C$0.78 on C$2.93 billion in revenue, with a 14.72% net margin and 7.43% return on equity.
• The stock has a “Moderate Buy” consensus rating and an average price target of C$79.68. Fortis also pays a quarterly dividend of C$0.64, representing a 3.4% annualized yield.

Fortis Inc. (TSE:FTS - Free Report) - Equities research analysts at Scotiabank boosted their FY2026 earnings per share (EPS) estimates for Fortis in a research note issued to investors on Thursday, September 10th. Scotiabank analyst R. Hope now anticipates that the company will earn $3.63 per share for the year, up from their previous forecast of $3.62. The consensus estimate for Fortis' current full-year earnings is $3.34 per share.

Fortis (TSE:FTS - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported C$0.78 earnings per share for the quarter. Fortis had a net margin of 14.72% and a return on equity of 7.43%. The firm had revenue of C$2.93 billion for the quarter.

FTS has been the topic of several other research reports. National Bank Financial boosted their price objective on shares of Fortis from C$75.00 to C$82.00 and gave the stock a "sector perform" rating in a research note on Monday, June 1st. Canadian Imperial Bank of Commerce lowered Fortis from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 17th. Finally, Desjardins increased their price target on Fortis from C$81.00 to C$85.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Fortis presently has a consensus rating of "Moderate Buy" and an average target price of C$79.68.

Fortis Price Performance

FTS stock opened at C$75.36 on Monday. The company has a fifty day moving average price of C$78.99 and a 200-day moving average price of C$78.48. The company has a market capitalization of C$38.50 billion, a P/E ratio of 22.16, a PEG ratio of 3.01 and a beta of 0.34. Fortis has a 52-week low of C$67.15 and a 52-week high of C$83.75. The company has a debt-to-equity ratio of 143.60, a quick ratio of 0.36 and a current ratio of 0.56.

Fortis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, September 1st were paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 19th. Fortis's dividend payout ratio is currently 74.56%.

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.

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