Fortis (FTS) Set to Announce Earnings on Wednesday
Fortis (TSE:FTS) is set to post its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect Fortis to post earnings of C$0.70 per share for the quarter.
Fortis (TSE:FTS) last announced its quarterly earnings results on Friday, February 15th. The company reported C$0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.61 by C($0.05). The firm had revenue of C$2.21 billion during the quarter, compared to analyst estimates of C$1.97 billion.
Shares of TSE:FTS opened at C$49.67 on Wednesday. The company has a market cap of $21.50 billion and a PE ratio of 19.18. The company has a debt-to-equity ratio of 134.30, a quick ratio of 0.35 and a current ratio of 0.77. Fortis has a 12 month low of C$40.21 and a 12 month high of C$50.47.
Several equities research analysts have recently commented on the company. Raymond James lowered Fortis from an “outperform” rating to a “market perform” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on Fortis from C$47.00 to C$50.00 in a research note on Monday, April 15th. UBS Group boosted their price target on Fortis from C$54.00 to C$55.00 in a research note on Wednesday, March 20th. CIBC boosted their price target on Fortis from C$49.00 to C$52.00 in a research note on Wednesday, April 3rd. Finally, BMO Capital Markets boosted their price target on Fortis from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Fortis has an average rating of “Hold” and a consensus target price of C$50.20.
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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 425,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,377 MW (MW), including 57 MW of solar capacity.
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