Today, Fortis Inc Expected to Post FY2017 Earnings of $2.43 Per Share (FTS)

Today, Fortis Inc Expected to Post FY2017 Earnings of $2.43 Per Share (FTS)

Fortis Inc (TSE:FTS) – Stock analysts at Desjardins issued their FY2017 earnings per share estimates for Fortis in a report issued on Wednesday. Desjardins analyst M. Jarvi expects that the brokerage will post earnings of $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.

Several other analysts have also issued reports on FTS. CIBC upped their target price on Fortis from C$44.00 to C$47.00 in a report on Wednesday, September 28th. TD Securities upped their target price on Fortis from C$48.00 to C$49.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Royal Bank Of Canada upped their target price on Fortis from C$49.00 to C$50.00 and gave the stock a “buy” rating in a report on Monday, November 7th. Scotiabank reiterated an “outperform” rating and set a C$48.00 target price on shares of Fortis in a report on Monday, November 7th. Finally, Raymond James Financial Inc. reiterated an “outperform” rating and set a C$50.00 target price on shares of Fortis in a report on Thursday, September 22nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of C$46.80.

Shares of Fortis (TSE:FTS) opened at 41.26 on Monday. Fortis has a one year low of $35.51 and a one year high of $44.87. The stock’s 50 day moving average price is $41.96 and its 200 day moving average price is $42.13. The firm has a market cap of $16.50 billion and a price-to-earnings ratio of 22.02.

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

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