Fortis (FTS) Projected to Post Earnings on Friday

Fortis (NYSE:FTS) will likely be announcing its earnings results before the market opens on Friday, February 14th. Analysts expect the company to announce earnings of $0.57 per share and revenue of $2.34 billion for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Fortis Price Performance

Shares of FTS opened at $43.89 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.74 and a quick ratio of 0.63. Fortis has a 1 year low of $36.86 and a 1 year high of $46.06. The business has a 50-day moving average of $42.34 and a 200-day moving average of $43.48. The company has a market capitalization of $21.91 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 3.94 and a beta of 0.50.

Fortis Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, February 18th will be issued a $0.4382 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.75 annualized dividend and a yield of 3.99%. Fortis’s payout ratio is 79.41%.

Analyst Ratings Changes

Separately, Raymond James lowered shares of Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th.

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.