Fortis Inc (FTS) to Release Earnings on Friday
Fortis Inc (TSE:FTS) is scheduled to release its earnings data before the market opens on Friday, November 3rd. Analysts expect Fortis to post earnings of C$0.56 per share for the quarter.
Shares of Fortis Inc (FTS) opened at 47.01 on Friday. Fortis Inc has a 1-year low of $39.58 and a 1-year high of $47.19. The company has a market capitalization of $19.65 billion and a price-to-earnings ratio of 20.25. The stock has a 50 day moving average of $45.39 and a 200-day moving average of $45.12.
In other Fortis news, insider Earl Ludlow sold 35,056 shares of the business’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of C$46.45, for a total transaction of C$1,628,351.20.
Several research analysts have commented on the stock. J P Morgan Chase & Co lifted their price target on shares of Fortis from C$47.00 to C$48.00 in a research note on Thursday, October 19th. CIBC lifted their price target on shares of Fortis from C$48.00 to C$49.00 in a research note on Tuesday, October 17th. National Bank Financial reissued a “sector perform” rating and set a C$49.00 price target (up from C$48.00) on shares of Fortis in a research note on Tuesday, October 17th. BMO Capital Markets set a C$51.00 price target on shares of Fortis in a research note on Friday, September 15th. Finally, Scotiabank reissued an “outperform” rating and set a C$50.00 price target on shares of Fortis in a research note on Monday, July 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Fortis currently has a consensus rating of “Buy” and an average price target of C$48.56.
Fortis Company Profile
Fortis Inc is a Canada-based electric and gas utility holding company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-the United States, which consists of ITC Holdings Corp. (ITC Holdings), UNS Energy Corporation and Central Hudson Gas & Electric Corporation (Central Hudson); Gas & Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Energy Inc (FortisBC Energy), FortisBC Inc (FortisBC Electric) and Newfoundland Power Inc (Newfoundland Power); Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd., Fortis Turks and Caicos, and its investment in Belize Electricity Limited.
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