Fortis FY2025 EPS Forecast Lifted by Raymond James Financial

Fortis (NYSE:FTS - Free Report) - Equities research analysts at Raymond James Financial lifted their FY2025 earnings estimates for shares of Fortis in a research report issued to clients and investors on Tuesday, July 22nd. Raymond James Financial analyst T. Genzebu now forecasts that the utilities provider will earn $2.55 per share for the year, up from their previous forecast of $2.45. Raymond James Financial currently has a "Moderate Buy" rating on the stock. The consensus estimate for Fortis' current full-year earnings is $2.35 per share.

Fortis (NYSE:FTS - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $3.42 billion. Fortis had a net margin of 14.20% and a return on equity of 7.08%. During the same quarter in the prior year, the firm earned $0.93 EPS.

Several other brokerages have also recently commented on FTS. Desjardins initiated coverage on shares of Fortis in a research report on Tuesday, May 6th. They issued a "hold" rating for the company. Cibc World Mkts raised shares of Fortis from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 21st. TD Securities initiated coverage on shares of Fortis in a research report on Friday, June 27th. They issued a "buy" rating for the company. Royal Bank Of Canada raised their price target on shares of Fortis from $69.00 to $72.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Finally, CIBC raised shares of Fortis from a "neutral" rating to a "sector outperform" rating in a research report on Monday, July 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $72.00.

Fortis Trading Up 0.1%

Shares of Fortis stock traded up $0.04 during mid-day trading on Thursday, hitting $49.10. The stock had a trading volume of 438,507 shares, compared to its average volume of 528,082. Fortis has a 12-month low of $40.32 and a 12-month high of $50.06. The company has a quick ratio of 0.63, a current ratio of 0.76 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average of $47.69 and a two-hundred day moving average of $45.97. The firm has a market cap of $24.72 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 3.84 and a beta of 0.48.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new position in Fortis during the second quarter worth approximately $632,000. Vanguard Personalized Indexing Management LLC grew its holdings in Fortis by 47.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,250 shares of the utilities provider's stock valued at $489,000 after purchasing an additional 3,293 shares in the last quarter. Louisbourg Investments Inc. grew its holdings in Fortis by 47.2% during the 2nd quarter. Louisbourg Investments Inc. now owns 72,562 shares of the utilities provider's stock valued at $3,458,000 after purchasing an additional 23,254 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in Fortis during the 2nd quarter valued at $28,000. Finally, US Bancorp DE boosted its stake in Fortis by 2.0% during the 2nd quarter. US Bancorp DE now owns 18,070 shares of the utilities provider's stock valued at $862,000 after acquiring an additional 359 shares during the last quarter. 57.77% of the stock is currently owned by institutional investors and hedge funds.

Fortis Company Profile

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.