Fortis (TSE:FTS) had its target price decreased by investment analysts at UBS Group from C$61.00 to C$58.00 in a note issued to investors on Monday, Analyst Price Targets reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential downside of 4.12% from the company’s current price.
A number of other equities research analysts also recently weighed in on the stock. CSFB raised their target price on shares of Fortis from C$60.00 to C$63.00 in a research note on Thursday. Raymond James reiterated a “market perform” rating and issued a C$58.00 price target on shares of Fortis in a research note on Monday, November 1st. Royal Bank of Canada upped their price target on shares of Fortis from C$59.00 to C$60.00 and gave the company a “sector perform” rating in a research report on Monday, November 1st. TD Securities downgraded Fortis from an “action list buy” rating to a “buy” rating and increased their target price for the company from C$64.00 to C$65.00 in a research report on Thursday, January 6th. Finally, Veritas Investment Research decreased their price target on Fortis to C$58.00 and set a “na” rating on the stock in a report on Friday, December 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$60.08.
Shares of TSE:FTS traded up C$0.69 during trading on Monday, reaching C$60.49. The stock had a trading volume of 707,342 shares, compared to its average volume of 1,283,423. The firm’s fifty day moving average is C$58.76 and its 200 day moving average is C$57.49. The company has a debt-to-equity ratio of 123.25, a quick ratio of 0.44 and a current ratio of 0.77. Fortis has a 52 week low of C$48.97 and a 52 week high of C$61.54. The stock has a market cap of C$28.61 billion and a price-to-earnings ratio of 23.02.
Fortis (TSE:FTS) last released its quarterly earnings data on Friday, October 29th. The company reported C$0.64 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of C$0.64. The business had revenue of C$2.20 billion for the quarter, compared to analyst estimates of C$2.11 billion. On average, research analysts forecast that Fortis will post 2.8499998 earnings per share for the current fiscal year.
Fortis Company Profile
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 433,000 retail customers in southeastern Arizona; and 98,000 retail customers in Arizona’s Mohave and Santa Cruz counties with an aggregate capacity of 3,233 megawatts (MW), including 59 MW of solar capacity.