Fortis (FTS) Scheduled to Post Earnings on Tuesday

Fortis (NYSE:FTS) is scheduled to announce its earnings results before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of $0.58 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Fortis (NYSE:FTS) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Fortis had a net margin of 13.90% and a return on equity of 7.04%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. On average, analysts expect Fortis to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fortis Price Performance

FTS stock opened at $42.79 on Friday. The company’s 50-day moving average price is $44.47 and its two-hundred day moving average price is $41.81. Fortis has a 12 month low of $36.86 and a 12 month high of $46.06. The company has a quick ratio of 0.58, a current ratio of 0.69 and a debt-to-equity ratio of 1.26. The firm has a market cap of $21.28 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.83 and a beta of 0.47.

Fortis Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be given a dividend of $0.615 per share. This is an increase from Fortis’s previous quarterly dividend of $0.43. This represents a $2.46 annualized dividend and a yield of 5.75%. The ex-dividend date of this dividend is Monday, November 18th. Fortis’s payout ratio is currently 76.69%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FTS shares. StockNews.com upgraded Fortis from a “sell” rating to a “hold” rating in a research note on Sunday, August 4th. Bank of America began coverage on Fortis in a research report on Friday, September 20th. They issued an “underperform” rating on the stock. Finally, UBS Group raised shares of Fortis to a “strong sell” rating in a report on Tuesday, September 10th.

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.