Brokers Offer Predictions for Fortis Inc’s Q3 2016 Earnings (FTS)
Fortis Inc (TSE:FTS) – Equities researchers at National Bank Financial issued their Q3 2016 earnings per share estimates for shares of Fortis in a research report issued to clients and investors on Wednesday. National Bank Financial analyst P. Kenny anticipates that the firm will post earnings of $0.54 per share for the quarter.
A number of other brokerages also recently issued reports on FTS. BMO Capital Markets boosted their price objective on shares of Fortis from C$46.00 to C$49.00 in a research report on Thursday, July 7th. CSFB boosted their price objective on shares of Fortis from C$42.00 to C$46.00 in a research report on Monday, July 25th. Scotiabank reissued an “outperform” rating and set a C$46.00 price objective on shares of Fortis in a research report on Monday, July 4th. TD Securities restated a “buy” rating and set a C$48.00 target price on shares of Fortis in a research note on Monday, July 4th. Finally, CIBC cut shares of Fortis from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Fortis has an average rating of “Buy” and an average price target of C$46.60.
Fortis (TSE:FTS) opened at 41.95 on Friday. The company has a market capitalization of $11.93 billion and a PE ratio of 21.35. The stock’s 50 day moving average price is $41.55 and its 200-day moving average price is $41.64. Fortis has a 52 week low of $35.51 and a 52 week high of $44.87.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.81%. This is a boost from Fortis’s previous quarterly dividend of $0.38.
Fortis Company Profile
Fortis Inc (Fortis) is a Canada-based electric and gas utility company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-United States, which consists of UNS Energy Corporation (UNS Energy) and Central Hudson Gas & Electric Corporation (Central Hudson); Regulated Gas Utility-Canadian, which consists of FortisBC Energy Inc (FortisBC Energy); Regulated Electric Utilities-Canadian, which consists of FortisAlberta Inc (FortisAlberta), FortisBC Electric and Eastern Canadian, and Regulated Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd.
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