Fortis Inc (TSE:FTS) – Analysts at Raymond James upped their Q1 2019 EPS estimates for Fortis in a report issued on Tuesday, April 23rd. Raymond James analyst D. Quezada now forecasts that the company will post earnings per share of $0.76 for the quarter, up from their prior estimate of $0.65. Raymond James currently has a “Market Perform” rating on the stock. Raymond James also issued estimates for Fortis’ Q2 2019 earnings at $0.57 EPS, Q3 2019 earnings at $0.62 EPS, Q4 2019 earnings at $0.65 EPS and FY2020 earnings at $2.71 EPS.
Fortis (TSE:FTS) last released its quarterly earnings data on Friday, February 15th. The company reported C$0.56 EPS for the quarter, missing analysts’ consensus estimates of C$0.61 by C($0.05). The business had revenue of C$2.21 billion for the quarter, compared to analysts’ expectations of C$1.97 billion.
A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Fortis from C$47.00 to C$50.00 in a report on Monday, April 15th. BMO Capital Markets boosted their price target on shares of Fortis from C$49.00 to C$50.00 in a report on Saturday, April 13th. CIBC boosted their price target on shares of Fortis from C$49.00 to C$52.00 in a report on Wednesday, April 3rd. UBS Group boosted their price target on shares of Fortis from C$54.00 to C$55.00 in a report on Wednesday, March 20th. Finally, Royal Bank of Canada boosted their price target on shares of Fortis from C$50.00 to C$53.00 and gave the company an “outperform” rating in a report on Tuesday, February 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Fortis currently has a consensus rating of “Hold” and an average target price of C$50.20.
Fortis stock opened at C$49.67 on Wednesday. The firm has a market capitalization of $21.50 billion and a price-to-earnings ratio of 19.18. The company has a debt-to-equity ratio of 134.30, a current ratio of 0.77 and a quick ratio of 0.35. Fortis has a 12 month low of C$40.21 and a 12 month high of C$50.47.
The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Thursday, May 16th. Fortis’s dividend payout ratio (DPR) is 66.60%.
Fortis Company Profile
Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona’s Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.