Fortis (FTS) Projected to Post Earnings on Wednesday

Fortis (NYSE:FTS - Get Free Report) is expected to announce its Q1 2025 earnings results before the market opens on Wednesday, May 7th. Analysts expect the company to announce earnings of $0.67 per share and revenue of $3.42 billion for the quarter.

Fortis (NYSE:FTS - Get Free Report) last announced its earnings results on Friday, February 14th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. Fortis had a net margin of 14.12% and a return on equity of 7.09%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the business posted $0.72 EPS. On average, analysts expect Fortis to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fortis Price Performance

Shares of NYSE FTS traded down $0.43 during midday trading on Friday, reaching $48.55. The company's stock had a trading volume of 695,412 shares, compared to its average volume of 625,177. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $24.35 billion, a P/E ratio of 20.57, a P/E/G ratio of 3.94 and a beta of 0.50. The business's 50 day moving average price is $45.96 and its two-hundred day moving average price is $44.18. Fortis has a fifty-two week low of $38.15 and a fifty-two week high of $49.65.

Fortis Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 16th will be issued a $0.4324 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.73 annualized dividend and a yield of 3.56%. Fortis's dividend payout ratio is presently 72.03%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group initiated coverage on Fortis in a research note on Thursday, February 13th. They issued a "hold" rating for the company. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, Fortis presently has an average rating of "Hold".

About Fortis

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.