Scotiabank Brokers Decrease Earnings Estimates for Fortis

Key Points

• Scotiabank lowered Fortis’ FY2026 EPS estimate to $3.62 from $3.63, though this remains above the analyst consensus of $3.34 per share.
• Fortis has a consensus “Moderate Buy” rating from analysts, with an average price target of C$79.23; recent target changes ranged from C$76.00 to C$85.00.
• The stock opened at C$75.31 and offers a quarterly dividend of $0.64, equivalent to an annualized dividend of $2.56 and a 3.4% yield.

Fortis Inc. (TSE:FTS - Free Report) - Stock analysts at Scotiabank reduced their FY2026 earnings per share estimates for shares of Fortis in a report issued on Thursday, October 1st. Scotiabank analyst R. Hope now anticipates that the company will post earnings per share of $3.62 for the year, down from their prior estimate of $3.63. The consensus estimate for Fortis' current full-year earnings is $3.34 per share.

Other research analysts have also recently issued reports about the stock. Barclays cut their price target on shares of Fortis from C$82.00 to C$76.00 and set an "overweight" rating on the stock in a report on Wednesday, September 30th. Desjardins lifted their price objective on shares of Fortis from C$81.00 to C$85.00 and gave the company a "buy" rating in a report on Monday, July 20th. Finally, Canadian Imperial Bank of Commerce lowered their price objective on shares of Fortis from C$82.00 to C$78.00 in a research report on Tuesday, September 22nd. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$79.23.

Fortis Stock Up 0.3%

TSE:FTS opened at C$75.31 on Monday. Fortis has a twelve month low of C$69.06 and a twelve month high of C$83.75. The company has a market cap of C$38.48 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 3.01 and a beta of 0.34. The stock has a fifty day simple moving average of C$77.07 and a 200-day simple moving average of C$78.14. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 143.60.

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

Fortis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, September 1st were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.56 dividend on an annualized basis and a yield of 3.4%. Fortis's dividend payout ratio (DPR) is 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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