National Bank Financial Comments on Fortis Inc’s FY2018 Earnings (FTS)
Fortis Inc (TSE:FTS) – Equities researchers at National Bank Financial cut their FY2018 earnings per share (EPS) estimates for Fortis in a report released on Monday, October 15th. National Bank Financial analyst P. Kenny now forecasts that the company will post earnings of $2.60 per share for the year, down from their prior forecast of $2.65. National Bank Financial currently has a “Sector Perform” rating and a $45.00 target price on the stock.
Other research analysts also recently issued research reports about the stock. Industrial Alliance Securities reduced their price target on shares of Fortis from C$51.00 to C$48.00 in a research note on Tuesday, October 9th. BMO Capital Markets reduced their price target on shares of Fortis from C$49.00 to C$48.00 in a research note on Tuesday, September 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of C$47.63.
Fortis (TSE:FTS) last announced its earnings results on Tuesday, July 31st. The company reported C$0.57 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of C$0.57. Fortis had a net margin of 16.89% and a return on equity of 8.20%. The business had revenue of C$1.95 billion for the quarter, compared to the consensus estimate of C$2.06 billion.
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 422,000 retail customers in southeastern Arizona; and 96,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 2,834 megawatts (MW), including 64 MW of solar capacity.
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