Fortis (NYSE:FTS) Receives Media Sentiment Rating of 0.24
News coverage about Fortis (NYSE:FTS) has trended somewhat positive this week, according to Accern Sentiment Analysis. Accern ranks the sentiment of media coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Fortis earned a news impact score of 0.24 on Accern’s scale. Accern also gave press coverage about the utilities provider an impact score of 47.5402829849442 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the news stories that may have effected Accern Sentiment’s scoring:
- Fortis Inc. (NYSE:FTS) Given Consensus Rating of “Hold” by Analysts (americanbankingnews.com)
- CIBC Lowers Fortis Inc. (FTS) to Neutral (footballhebdo.com)
- FY2017 EPS Estimates for Fortis Inc Lifted by Analyst (FTS) (lazeresportes.com)
- Sit Investment Associates Inc. Sells 200 Shares of Fortis Inc. (FTS) (overnewsmagazine.com)
- Fortis Inc (FTS) Lowered to Neutral at CIBC (elcumanes.com)
FTS has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Fortis from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. CIBC downgraded Fortis from an “outperform” rating to a “neutral” rating in a report on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Fortis currently has an average rating of “Hold” and a consensus price target of $38.00.
Fortis (FTS) traded up 0.14% on Thursday, reaching $36.06. The company’s stock had a trading volume of 100,200 shares. Fortis has a 1-year low of $29.14 and a 1-year high of $36.96. The firm’s 50 day moving average price is $35.50 and its 200-day moving average price is $33.34. The company has a market capitalization of $15.07 billion and a price-to-earnings ratio of 19.49.
Fortis (NYSE:FTS) last announced its earnings results on Friday, July 28th. The utilities provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Fortis had a return on equity of 6.87% and a net margin of 11.03%. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $0.45 EPS. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. Equities analysts forecast that Fortis will post $2.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 21st will be given a dividend of $0.3197 per share. The ex-dividend date is Thursday, August 17th. This represents a $1.28 dividend on an annualized basis and a yield of 3.55%. This is a boost from Fortis’s previous quarterly dividend of $0.31. Fortis’s payout ratio is currently 68.02%.
Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 420,000 retail customers in a territory comprising approximately 2,991 square kilometers located in southeastern Arizona, including the greater Tucson metropolitan area in Pima county, as well as parts of Cochise county; and 95,000 retail customers in Arizonas Mohave and Santa Cruz counties with an aggregate capacity of 2,994 megawatts (MW) comprising 54 MW of solar capacity.
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