Fortis Given Average Recommendation of “Hold” by Brokerages (TSE:FTS)
Fortis (TSE:FTS) has earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the stock, AnalystRatingsNetwork.com reports. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$34.75.
FTS has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Fortis from C$35.00 to C$36.00 in a research note on Tuesday. They now have a “sector perform” rating on the stock. Separately, analysts at CIBC raised their price target on shares of Fortis from C$35.00 to C$37.00 in a research note on Tuesday. They now have a “sector outperform” rating on the stock. Finally, analysts at Scotiabank reiterated an “outperform” rating on shares of Fortis in a research note on Tuesday, May 20th. They now have a C$38.00 price target on the stock.
Fortis (TSE:FTS) opened at 33.46 on Tuesday. Fortis has a one year low of $29.51 and a one year high of $33.88. The stock has a 50-day moving average of $32.80 and a 200-day moving average of $31.81. The company has a market cap of $7.207 billion and a price-to-earnings ratio of 20.70.
Fortis (TSE:FTS) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.26 by $0.04. Analysts expect that Fortis will post $1.62 EPS for the current fiscal year.
The company also recently announced a Quarterly dividend, which is scheduled for Monday, September 1st. Stockholders of record on Monday, September 1st will be paid a dividend of $0.32 per share. This represents a dividend yield of 3.79%. The ex-dividend date is Wednesday, August 13th.
Fortis Inc (TSE:FTS) is an investor-owned gas and electric distribution utility in Canada.
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