What is Scotiabank’s Estimate for Fortis FY2027 Earnings?

Fortis Inc. (TSE:FTS) – Equities researchers at Scotiabank upped their FY2027 earnings estimates for shares of Fortis in a report issued on Friday, January 23rd. Scotiabank analyst R. Hope now anticipates that the company will post earnings per share of $3.82 for the year, up from their previous estimate of $3.77. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

Fortis (TSE:FTS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported C$0.87 earnings per share for the quarter. The business had revenue of C$2.94 billion for the quarter. Fortis had a net margin of 14.53% and a return on equity of 7.48%.

Other analysts also recently issued research reports about the stock. Royal Bank Of Canada increased their target price on shares of Fortis from C$72.00 to C$79.00 in a report on Wednesday, November 5th. BMO Capital Markets increased their price objective on shares of Fortis from C$72.00 to C$74.00 in a research note on Wednesday, November 5th. Raymond James Financial lifted their target price on shares of Fortis from C$72.00 to C$75.50 and gave the stock an “outperform” rating in a research report on Friday, October 24th. TD Securities upped their target price on Fortis from C$77.00 to C$79.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, National Bankshares increased their price target on Fortis from C$68.00 to C$72.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$74.85.

Fortis Price Performance

Shares of TSE:FTS opened at C$72.19 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31. The stock has a market cap of C$36.21 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 3.01 and a beta of 0.31. The stock’s fifty day simple moving average is C$71.51 and its two-hundred day simple moving average is C$70.10. Fortis has a 1-year low of C$60.48 and a 1-year high of C$74.00.

Fortis Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, December 1st were given a $0.64 dividend. This is an increase from Fortis’s previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, November 17th. Fortis’s dividend payout ratio (DPR) is 73.21%.

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.