FY2025 Earnings Estimate for Fortis Issued By Desjardins

Fortis Inc. (TSE:FTS - Free Report) - Equities research analysts at Desjardins issued their FY2025 earnings per share estimates for shares of Fortis in a note issued to investors on Monday, May 5th. Desjardins analyst B. Stadler expects that the company will post earnings of $3.39 per share for the year. Desjardins currently has a "Hold" rating and a $70.00 target price on the stock. The consensus estimate for Fortis' current full-year earnings is $3.34 per share. Desjardins also issued estimates for Fortis' FY2026 earnings at $3.62 EPS, FY2027 earnings at $3.80 EPS, FY2028 earnings at $4.01 EPS and FY2029 earnings at $4.23 EPS.

Several other research analysts have also commented on FTS. CIBC boosted their price objective on shares of Fortis from C$68.00 to C$69.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Scotiabank upped their price target on Fortis from C$63.00 to C$66.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Jefferies Financial Group raised their price objective on Fortis from C$67.00 to C$70.00 in a research report on Monday, April 14th. UBS Group upped their target price on Fortis from C$58.00 to C$63.00 in a research report on Friday, March 21st. Finally, Raymond James decreased their price target on Fortis from C$69.00 to C$62.50 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of C$63.71.

Fortis Price Performance

FTS opened at C$67.53 on Wednesday. The firm has a market capitalization of C$33.41 billion, a PE ratio of 20.04, 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 current ratio of 0.74 and a quick ratio of 0.36. The business's 50-day moving average is C$65.24 and its two-hundred day moving average is C$62.67. Fortis has a 1 year low of C$52.19 and a 1 year high of C$68.65.

Fortis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Sunday, June 1st will be given a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is 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.

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