Fortis (FTS) Scheduled to Post Quarterly Earnings on Wednesday

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

Fortis Stock Down 0.1 %

Shares of TSE FTS opened at C$53.37 on Wednesday. Fortis has a 12-month low of C$49.82 and a 12-month high of C$62.00. The company has a market cap of C$26.31 billion, a P/E ratio of 17.22, a P/E/G 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. The stock has a fifty day moving average price of C$53.05 and a 200 day moving average price of C$54.19.

Fortis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 17th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.36 annualized dividend and a yield of 4.42%. Fortis’s dividend payout ratio is currently 76.13%.

Insider Activity at Fortis

In related news, Senior Officer Ronald Hinsley sold 972 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of C$38.79, for a total transaction of C$37,706.21. In related news, Senior Officer Ronald Hinsley sold 972 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of C$38.79, for a total transaction of C$37,706.21. Also, Director Brian Slocum bought 1,888 shares of Fortis stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average price of C$39.18 per share, with a total value of C$73,971.65. Insiders have purchased 2,851 shares of company stock worth $111,115 over the last quarter. 0.04% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FTS has been the subject of a number of analyst reports. CIBC decreased their price objective on shares of Fortis from C$59.00 to C$56.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. BMO Capital Markets decreased their price objective on shares of Fortis from C$58.50 to C$58.00 and set a “market perform” rating for the company in a research report on Monday, February 12th. 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. National Bankshares upped their price objective on shares of Fortis from C$52.00 to C$55.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 30th. Finally, Bank of America increased their price target on shares of Fortis from C$49.00 to C$50.00 in a research 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 company’s stock. According to MarketBeat.com, Fortis presently has a consensus rating of “Hold” and a consensus target price of C$57.00.

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 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.