Research Analysts Issue Forecasts for Fortis FY2027 Earnings

Key Points

• Scotiabank raised its FY2027 EPS forecast for Fortis to $3.85 from $3.84 and maintains a "Sector Perform" rating with an $80.00 target, versus a consensus full-year estimate of $3.34 per share.
• The analyst landscape is mixed but mildly positive: MarketBeat data shows an average rating of "Moderate Buy" with an average price target of C$75.75, while individual targets range from C$62 (Barclays) to C$81 (Desjardins).
• Fortis declared a quarterly dividend of $0.64 (annualized $2.56) with an ex-dividend date of May 15 and a yield of 3.3%, supporting income-oriented investor appeal.

Fortis Inc. (TSE:FTS - Free Report) - Investment analysts at Scotiabank upped their FY2027 earnings estimates for Fortis in a report released on Friday, May 1st. Scotiabank analyst R. Hope now forecasts that the company will post earnings of $3.85 per share for the year, up from their prior forecast of $3.84. Scotiabank currently has a "Sector Perform" rating and a $80.00 target price on the stock. The consensus estimate for Fortis' current full-year earnings is $3.34 per share.

A number of other research analysts have also weighed in on the company. Desjardins increased their price target on Fortis from C$79.00 to C$81.00 and gave the stock a "buy" rating in a research note on Friday, February 13th. Royal Bank Of Canada lifted their price objective on Fortis from C$79.00 to C$80.00 and gave the company a "sector perform" rating in a research report on Friday, February 13th. Barclays set a C$62.00 target price on Fortis and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Jefferies Financial Group decreased their price target on Fortis from C$72.00 to C$70.00 in a research note on Wednesday, January 28th. Finally, BMO Capital Markets lifted their price target on Fortis from C$74.00 to C$77.00 and gave the company a "market perform" rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Fortis has an average rating of "Moderate Buy" and an average price target of C$75.75.

Fortis Price Performance

FTS stock opened at C$77.74 on Monday. The stock has a market capitalization of C$39.58 billion, a P/E ratio of 22.86, a PEG ratio of 3.01 and a beta of 0.45. The company has a debt-to-equity ratio of 145.62, a quick ratio of 0.36 and a current ratio of 0.51. Fortis has a one year low of C$63.54 and a one year high of C$80.69. The company has a 50 day moving average price of C$77.98 and a two-hundred day moving average price of C$74.26.

Fortis (TSE:FTS - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported C$0.90 earnings per share for the quarter. Fortis had a net margin of 14.78% and a return on equity of 7.51%. The business had revenue of C$3.08 billion during the quarter.

Insider Activity

In other news, insider Karen J. Gosse sold 8,412 shares of the company's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of C$78.18, for a total transaction of C$657,650.16. Following the completion of the sale, the insider directly owned 52,228 shares in the company, valued at C$4,083,185.04. This represents a 13.87% decrease in their position. 0.04% of the stock is owned by corporate insiders.

Fortis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.56 annualized dividend and a dividend yield of 3.3%. Fortis's payout ratio is currently 73.09%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.