Scotiabank Issues Optimistic Forecast for Fortis Earnings

Fortis Inc. (TSE:FTS) – Equities researchers at Scotiabank lifted their FY2026 EPS estimates for Fortis in a research report issued to clients and investors on Thursday, September 10th. Scotiabank analyst R. Hope now expects that the company will earn $3.63 per share for the year, up from their previous estimate of $3.62. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

A number of other analysts also recently issued reports on FTS. Canadian Imperial Bank of Commerce downgraded Fortis from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Desjardins increased their price target on Fortis from C$81.00 to C$85.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, National Bank Financial increased their price target on Fortis from C$75.00 to C$82.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$79.68.

Fortis Trading Down 1.1%

Shares of TSE:FTS opened at C$74.46 on Monday. The company’s 50-day moving average price is C$78.73 and its two-hundred day moving average price is C$78.44. Fortis has a one year low of C$67.15 and a one year high of C$83.75. The company has a debt-to-equity ratio of 143.60, a current ratio of 0.56 and a quick ratio of 0.36. The stock has a market capitalization of C$38.04 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 3.01 and a beta of 0.34.

Fortis (TSE:FTS) last issued its quarterly earnings results on Friday, July 31st. The company reported C$0.78 earnings per share (EPS) for the quarter. Fortis had a net margin of 14.72% and a return on equity of 7.43%. The firm had revenue of C$2.93 billion for the quarter.

Fortis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, September 1st were paid a $0.64 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $2.56 dividend on an annualized basis and a yield of 3.4%. Fortis’s dividend payout ratio (DPR) is currently 74.56%.

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. states, with more than 16,000 miles of high-voltage transmission lines in operation serving a peak load in excess of 23 gigawatts.