Fortis (FTS) to Release Earnings on Wednesday

Fortis (NYSE:FTS) will announce its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.68 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Fortis (NYSE:FTS) last released its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.39 billion. Fortis had a return on equity of 7.00% and a net margin of 13.22%. During the same period in the previous year, the company posted $0.53 EPS. On average, analysts expect Fortis to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fortis Stock Up 1.3 %

FTS opened at $39.55 on Tuesday. Fortis has a 1 year low of $36.30 and a 1 year high of $46.28. The firm has a 50 day moving average price of $39.10 and a 200 day moving average price of $39.96. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.67. The company has a market cap of $19.50 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.75 and a beta of 0.42.

Fortis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.4382 per share. This is an increase from Fortis’s previous quarterly dividend of $0.44. This represents a $1.75 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Thursday, May 16th. Fortis’s payout ratio is currently 55.22%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Fortis from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $55.13.

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.