Trade Report: Today: Desjardins Comments on Fortis Inc’s FY2017 Earnings (FTS)

Today: Desjardins Comments on Fortis Inc’s FY2017 Earnings (FTS)

Fortis Inc (TSE:FTS) – Equities research analysts at Desjardins issued their FY2017 EPS estimates for Fortis in a research note issued on Wednesday. Desjardins analyst M. Jarvi anticipates that the brokerage will earn $2.43 per share for the year. Desjardins has a “Buy” rating and a $46.00 price objective on the stock. Desjardins also issued estimates for Fortis’ FY2018 earnings at $2.53 EPS, FY2019 earnings at $2.64 EPS and FY2020 earnings at $2.75 EPS.

A number of other brokerages also recently weighed in on FTS. Scotiabank restated an “outperform” rating and set a C$48.00 price objective on shares of Fortis in a research report on Wednesday, October 12th. Raymond James Financial Inc. restated an “outperform” rating and set a C$50.00 price objective on shares of Fortis in a research report on Thursday, September 22nd. CIBC increased their price objective on shares of Fortis from C$44.00 to C$47.00 in a research report on Wednesday, September 28th. Royal Bank Of Canada increased their price objective on shares of Fortis from C$49.00 to C$50.00 and gave the company a “buy” rating in a research report on Monday, November 7th. Finally, TD Securities increased their price objective on shares of Fortis from C$48.00 to C$49.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Fortis currently has an average rating of “Buy” and a consensus target price of C$46.80.

Fortis (TSE:FTS) opened at 40.59 on Monday. Fortis has a 52-week low of $35.51 and a 52-week high of $44.87. The company has a market cap of $16.23 billion and a PE ratio of 21.66. The firm’s 50 day moving average is $41.94 and its 200 day moving average is $42.11.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This is a boost from Fortis’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.94%.

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