Raymond James Financial Raises Earnings Estimates for Fortis

Fortis Inc. (TSE:FTS - Free Report) - Analysts at Raymond James Financial upped their FY2025 earnings estimates for Fortis in a report issued on Tuesday, July 22nd. Raymond James Financial analyst T. Genzebu now forecasts that the company will post earnings per share of $3.49 for the year, up from their prior estimate of $3.40. Raymond James Financial has a "Moderate Buy" rating on the stock. The consensus estimate for Fortis' current full-year earnings is $3.34 per share.

A number of other research firms have also commented on FTS. Scotiabank upped their price target on shares of Fortis from C$66.00 to C$70.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. Royal Bank Of Canada raised their price target on shares of Fortis from C$69.00 to C$72.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. CIBC boosted their target price on shares of Fortis from C$68.00 to C$69.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Cibc World Mkts raised shares of Fortis from a "hold" rating to a "strong-buy" rating in a report on Monday, July 21st. Finally, TD Securities set a C$74.00 price target on shares of Fortis and gave the company a "buy" rating in a research note on Friday, June 27th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a strong buy rating to the company. According to MarketBeat, Fortis currently has an average rating of "Hold" and an average price target of C$66.35.

Fortis Price Performance

Fortis stock traded up C$0.34 during mid-day trading on Thursday, hitting C$67.28. 737,109 shares of the company traded hands, compared to its average volume of 1,658,028. The stock has a market cap of C$33.28 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23. The company has a debt-to-equity ratio of 142.31, a quick ratio of 0.36 and a current ratio of 0.74. Fortis has a one year low of C$56.35 and a one year high of C$69.24. The stock has a fifty day moving average price of C$65.32 and a 200-day moving average price of C$64.41.

Fortis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Sunday, June 1st were given a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, May 16th. Fortis's dividend payout ratio is presently 73.02%.

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.