Fortis (FTS) Scheduled to Post Earnings on Friday

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Fortis (NYSE:FTS) will release its earnings data before the market opens on Friday, November 2nd. Analysts expect Fortis to post earnings of $0.46 per share for the quarter.

Fortis (NYSE:FTS) last issued its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.13. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.57 billion. Fortis had a return on equity of 6.75% and a net margin of 11.97%. During the same quarter in the previous year, the company posted $0.61 EPS. On average, analysts expect Fortis to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NYSE FTS opened at $32.98 on Wednesday. The firm has a market capitalization of $14.07 billion, a PE ratio of 16.83, a PEG ratio of 3.40 and a beta of -0.13. Fortis has a 52 week low of $30.88 and a 52 week high of $38.24. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 1.37.

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Tuesday, November 20th will be paid a $0.349 dividend. This is a boost from Fortis’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Monday, November 19th. Fortis’s dividend payout ratio (DPR) is 66.67%.

Several equities research analysts have recently commented on the company. Zacks Investment Research cut Fortis from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Bank of America assumed coverage on Fortis in a research note on Tuesday, October 9th. They issued a “buy” rating for the company. Finally, ValuEngine raised Fortis from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Fortis has an average rating of “Hold” and a consensus price target of $45.00.

Fortis Company Profile

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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Earnings History for Fortis (NYSE:FTS)

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