Raymond James Analysts Lower Earnings Estimates for Fortis

Fortis Inc. (TSE:FTS - Free Report) - Equities research analysts at Raymond James lowered their Q1 2025 earnings estimates for shares of Fortis in a report issued on Tuesday, November 5th. Raymond James analyst D. Quezada now anticipates that the company will post earnings per share of $0.93 for the quarter, down from their prior estimate of $0.94. Raymond James currently has a "Market Perform" rating on the stock. The consensus estimate for Fortis' current full-year earnings is $3.34 per share. Raymond James also issued estimates for Fortis' Q4 2025 earnings at $0.90 EPS and FY2025 earnings at $3.32 EPS.

FTS has been the topic of a number of other reports. JPMorgan Chase & Co. increased their target price on shares of Fortis from C$52.00 to C$53.00 in a report on Thursday, July 25th. Royal Bank of Canada increased their price objective on Fortis from C$62.00 to C$65.00 and gave the company a "sector perform" rating in a research note on Thursday, October 3rd. Bank of America set a C$60.00 target price on Fortis and gave the stock an "underperform" rating in a research note on Friday, September 20th. Scotiabank increased their price target on Fortis from C$56.00 to C$63.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 20th. Finally, UBS Group upgraded Fortis to a "strong sell" rating in a research note on Tuesday, September 10th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of C$60.33.

Fortis Trading Up 1.1 %

Fortis stock traded up C$0.68 during midday trading on Friday, reaching C$61.47. 1,194,939 shares of the stock traded hands, compared to its average volume of 1,621,812. The company has a 50-day simple moving average of C$60.69 and a two-hundred day simple moving average of C$57.14. The company has a current ratio of 0.69, a quick ratio of 0.36 and a debt-to-equity ratio of 128.59. Fortis has a 12-month low of C$51.02 and a 12-month high of C$62.47. The firm has a market cap of C$30.44 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 3.01 and a beta of 0.23.

Fortis Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Sunday, December 1st will be paid a dividend of $0.83 per share. This is a positive change from Fortis's previous quarterly dividend of $0.59. This represents a $3.32 annualized dividend and a yield of 5.40%. The ex-dividend date is Monday, November 18th. Fortis's dividend payout ratio (DPR) is currently 77.12%.

Insider Activity at Fortis

In related news, Senior Officer James Reid sold 19,972 shares of the company's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of C$59.46, for a total value of C$1,187,493.18. 0.04% of the stock is owned by corporate insiders.

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.