Scotiabank Weighs in on Fortis' FY2026 Earnings (TSE:FTS)

Key Points

• Scotiabank raised its FY2026 earnings estimate for Fortis to C$3.62 per share, up slightly from C$3.60, and above the current consensus estimate of C$3.34.
• Other analysts remain broadly positive on the stock, with Fortis carrying a “Moderate Buy” consensus and an average price target of C$79.32, though recent target changes were mixed.
• Fortis also recently reported quarterly EPS of C$0.99 and continues to pay a quarterly dividend of C$0.64, implying an annualized yield of about 3.1%.

Fortis Inc. (TSE:FTS - Free Report) - Scotiabank upped their FY2026 earnings estimates for shares of Fortis in a research note issued on Tuesday, July 7th. Scotiabank analyst R. Hope now anticipates that the company will earn $3.62 per share for the year, up from their prior forecast of $3.60. The consensus estimate for Fortis' current full-year earnings is $3.34 per share.

A number of other research firms also recently weighed in on FTS. Barclays cut their price target on shares of Fortis from C$84.00 to C$83.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Raymond James Financial boosted their price objective on shares of Fortis from C$78.50 to C$80.50 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. TD upped their price objective on Fortis from C$83.00 to C$84.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Finally, National Bank Financial increased their target price on Fortis from C$75.00 to C$82.00 and gave the stock a "sector perform" rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$79.32.

Fortis Price Performance

Fortis stock opened at C$81.77 on Thursday. Fortis has a 1 year low of C$63.74 and a 1 year high of C$82.67. The firm has a 50 day moving average price of C$78.54 and a 200 day moving average price of C$76.52. The company has a market cap of C$41.63 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 3.01 and a beta of 0.41. The company has a debt-to-equity ratio of 145.23, a quick ratio of 0.36 and a current ratio of 0.49.

Fortis (TSE:FTS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$0.99 earnings per share for the quarter. Fortis had a net margin of 14.75% and a return on equity of 7.51%. The business had revenue of C$3.40 billion for the quarter.

Insider Transactions at Fortis

In other news, insider James Reid sold 421 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of C$79.05, for a total value of C$33,280.05. Following the completion of the sale, the insider owned 31,283 shares of the company's stock, valued at C$2,472,921.15. This represents a 1.33% decrease in their ownership of the stock. In the last three months, insiders acquired 572 shares of company stock valued at $45,909. 0.04% of the stock is currently owned by corporate insiders.

Fortis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, June 1st were issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, May 15th. Fortis's dividend payout ratio is currently 74.04%.

About Fortis

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.