Raymond James Has Strong Forecast for Fortis FY2025 Earnings

Fortis Inc. (TSE:FTS - Free Report) - Stock analysts at Raymond James increased their FY2025 EPS estimates for Fortis in a research report issued to clients and investors on Thursday, May 8th. Raymond James analyst T. Genzebu now expects that the company will earn $3.40 per share for the year, up from their previous forecast of $3.38. Raymond James currently has a "Market Perform" rating and a $62.50 target price on the stock. The consensus estimate for Fortis' current full-year earnings is $3.34 per share. Raymond James also issued estimates for Fortis' Q4 2025 earnings at $0.90 EPS, Q1 2026 earnings at $1.00 EPS, Q3 2026 earnings at $0.88 EPS, Q4 2026 earnings at $0.98 EPS and FY2026 earnings at $3.53 EPS.

Several other brokerages have also recently commented on FTS. Scotiabank increased their target price on shares of Fortis from C$66.00 to C$70.00 and gave the stock a "sector perform" rating in a report on Thursday, May 8th. CIBC increased their target price on shares of Fortis from C$68.00 to C$69.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Royal Bank of Canada increased their price target on shares of Fortis from C$69.00 to C$72.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. Jefferies Financial Group increased their price target on shares of Fortis from C$67.00 to C$70.00 in a research note on Monday, April 14th. Finally, UBS Group increased their price target on shares of Fortis from C$58.00 to C$63.00 in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of C$64.25.

Fortis Stock Down 0.7%

FTS traded down C$0.48 during trading hours on Monday, hitting C$64.89. 1,648,711 shares of the company's stock were exchanged, compared to its average volume of 1,777,485. Fortis has a 1-year low of C$52.19 and a 1-year high of C$69.24. The stock's 50-day moving average is C$65.51 and its two-hundred day moving average is C$62.82. The stock has a market cap of C$32.10 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 3.01 and a beta of 0.23. The company has a quick ratio of 0.36, a current ratio of 0.74 and a debt-to-equity ratio of 142.31.

Fortis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors 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 3.79%. The ex-dividend date of this dividend is Friday, May 16th. Fortis's dividend payout ratio is 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.