Fortis Inc. (TSE:FTS – Free Report) – Stock analysts at Raymond James dropped their Q1 2024 earnings per share (EPS) estimates for Fortis in a note issued to investors on Thursday, April 25th. Raymond James analyst D. Quezada now forecasts that the company will post earnings of $0.88 per share for the quarter, down from their prior forecast of $0.92. The consensus estimate for Fortis’ current full-year earnings is $3.21 per share.
Fortis (TSE:FTS – Get Free Report) last posted its quarterly earnings results on Friday, February 9th. The company reported C$0.72 EPS for the quarter, meeting analysts’ consensus estimates of C$0.72. The business had revenue of C$2.89 billion during the quarter, compared to the consensus estimate of C$3.22 billion. Fortis had a return on equity of 7.41% and a net margin of 13.66%.
Read Our Latest Stock Report on Fortis
Fortis Stock Performance
Fortis stock opened at C$54.06 on Monday. Fortis has a 12-month low of C$49.82 and a 12-month high of C$62.00. The company has a quick ratio of 0.36, a current ratio of 0.68 and a debt-to-equity ratio of 128.76. The business’s 50-day moving average price is C$53.14 and its two-hundred day moving average price is C$54.16. The stock has a market cap of C$26.65 billion, a PE ratio of 17.44, a P/E/G ratio of 2.80 and a beta of 0.17.
Insider Activity at Fortis
In other Fortis news, Senior Officer Ronald Hinsley sold 972 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of C$38.79, for a total value of C$37,706.21. In other Fortis news, Director Margarita Dilley purchased 960 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were purchased at an average cost of C$38.57 per share, with a total value of C$37,027.20. Also, Senior Officer Ronald Hinsley sold 972 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of C$38.79, for a total value of C$37,706.21. Insiders have purchased 2,851 shares of company stock worth $111,115 over the last ninety days. Insiders own 0.04% of the company’s stock.
Fortis Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Saturday, June 1st will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend is Thursday, May 16th. Fortis’s payout ratio is presently 76.13%.
Fortis Company Profile
Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.
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