The Fortis Inc Forecasted to Post Q3 2016 Earnings of $0.54 Per Share (FTS)

The Fortis Inc Forecasted to Post Q3 2016 Earnings of $0.54 Per Share (FTS)

Fortis Inc (TSE:FTS) – Equities research analysts at National Bank Financial issued their Q3 2016 EPS estimates for shares of Fortis in a note issued to investors on Wednesday. National Bank Financial analyst P. Kenny forecasts that the brokerage will earn $0.54 per share for the quarter.

A number of other brokerages have also issued reports on FTS. BMO Capital Markets increased their target price on shares of Fortis from C$46.00 to C$49.00 in a research report on Thursday, July 7th. CSFB increased their target price on shares of Fortis from C$42.00 to C$46.00 in a research report on Monday, July 25th. Scotiabank reiterated an “outperform” rating and set a C$46.00 price target on shares of Fortis in a research report on Monday, July 4th. TD Securities reiterated a “buy” rating and set a C$48.00 price target on shares of Fortis in a research report on Monday, July 4th. Finally, CIBC lowered shares of Fortis from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of C$46.60.

Fortis (TSE:FTS) traded up 1.93% on Friday, reaching $41.75. 2,012,471 shares of the company traded hands. The stock has a 50-day moving average of $41.58 and a 200 day moving average of $41.63. The company has a market capitalization of $11.88 billion and a PE ratio of 21.25. Fortis has a 52-week low of $35.51 and a 52-week high of $44.87.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.91%. This is a positive change from Fortis’s previous quarterly dividend of $0.38.

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