Fortis (FTS) Scheduled to Post Quarterly Earnings on Wednesday

Fortis (TSE:FTS - Get Free Report) is set to announce its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of C$0.92 per share for the quarter.

Fortis (TSE:FTS - Get Free Report) last posted its earnings results on Friday, February 9th. The company reported C$0.72 earnings per share for the quarter, meeting the consensus estimate of C$0.72. Fortis had a net margin of 13.66% and a return on equity of 7.41%. The firm had revenue of C$2.89 billion during the quarter, compared to the consensus estimate of C$3.22 billion.

Fortis Trading Up 0.5 %

Fortis stock traded up C$0.28 during trading on Wednesday, hitting C$53.65. The company had a trading volume of 1,483,341 shares, compared to its average volume of 1,563,069. The company's 50 day simple moving average is C$53.08 and its 200-day simple moving average is C$54.18. The stock has a market cap of C$26.45 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 2.80 and a beta of 0.17. The company has a current ratio of 0.68, a quick ratio of 0.36 and a debt-to-equity ratio of 128.76. Fortis has a 1-year low of C$49.82 and a 1-year high of C$62.00.

Fortis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 17th will be paid a $0.59 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.36 annualized dividend and a dividend yield of 4.40%. Fortis's dividend payout ratio (DPR) is 76.13%.

Insiders Place Their Bets

In other Fortis news, Director Brian Slocum purchased 1,888 shares of the firm's stock in a transaction on Tuesday, March 5th. The shares were purchased at an average cost of C$39.18 per share, with a total value of C$73,971.65. In other news, Director Brian Slocum acquired 1,888 shares of Fortis stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average cost of C$39.18 per share, with a total value of C$73,971.65. Also, Director Margarita Dilley acquired 960 shares of Fortis stock in a transaction dated Thursday, February 29th. The stock was purchased at an average cost of C$38.57 per share, for a total transaction of C$37,027.20. In the last ninety days, insiders have acquired 2,851 shares of company stock valued at $111,115. Insiders own 0.04% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on FTS shares. CIBC dropped their price target on shares of Fortis from C$59.00 to C$56.00 and set a "neutral" rating for the company in a research note on Friday, April 19th. JPMorgan Chase & Co. decreased their price objective on shares of Fortis from C$53.00 to C$50.00 and set an "underweight" rating for the company in a research report on Monday, January 22nd. BMO Capital Markets cut their price target on Fortis from C$58.50 to C$58.00 and set a "market perform" rating on the stock in a research note on Monday, February 12th. Scotiabank lowered their price objective on Fortis from C$60.00 to C$56.00 and set a "sector perform" rating for the company in a research report on Monday. Finally, Bank of America increased their price objective on Fortis from C$49.00 to C$50.00 in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of C$57.00.

About Fortis

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.