Scotiabank Has Negative Opinion of Fortis FY2026 Earnings

Fortis Inc. (TSE:FTS) – Equities research analysts at Scotiabank lowered their FY2026 earnings per share (EPS) estimates for Fortis in a report released on Thursday, October 1st. Scotiabank analyst R. Hope now expects that the company will post earnings per share of $3.62 for the year, down from their previous forecast of $3.63. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

Fortis (TSE:FTS) last announced its quarterly earnings data on Friday, July 31st. The company reported C$0.78 EPS for the quarter. The firm had revenue of C$2.93 billion during the quarter. Fortis had a return on equity of 7.43% and a net margin of 14.72%.

Several other equities research analysts have also recently commented on the stock. Barclays lowered their price target on shares of Fortis from C$82.00 to C$76.00 and set an “overweight” rating for the company in a research report on Wednesday, September 30th. Desjardins raised their price objective on shares of Fortis from C$81.00 to C$85.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Canadian Imperial Bank of Commerce lowered their target price on shares of Fortis from C$82.00 to C$78.00 in a report on Tuesday, September 22nd. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$79.23.

Fortis Stock Performance

Fortis stock opened at C$75.25 on Monday. The company has a market cap of C$38.45 billion, a PE ratio of 22.13, a PEG ratio of 3.01 and a beta of 0.34. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 143.60. Fortis has a 1 year low of C$69.06 and a 1 year high of C$83.75. The company’s 50-day moving average is C$76.77 and its two-hundred day moving average is C$78.08.

Fortis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, September 1st were given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Wednesday, August 19th. Fortis’s payout ratio is presently 74.56%.

Fortis Company Profile

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S. states, with more than 16,000 miles of high-voltage transmission lines in operation serving a peak load in excess of 23 gigawatts.