Fortis (TSE:FTS – Get Free Report) received a C$60.00 price target from Bank of America in a research note issued on Friday, BayStreet.CA reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s target price would suggest a potential downside of 0.23% from the company’s previous close.
Several other brokerages also recently issued reports on FTS. Scotiabank raised their price target on Fortis from C$56.00 to C$63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Royal Bank of Canada lifted their target price on shares of Fortis from C$61.00 to C$62.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. CIBC increased their price target on shares of Fortis from C$57.00 to C$59.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. BMO Capital Markets boosted their price objective on Fortis from C$59.00 to C$61.00 in a report on Thursday, September 5th. Finally, National Bankshares increased their target price on Fortis from C$56.00 to C$62.00 and gave the stock a “sector perform” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Fortis currently has a consensus rating of “Hold” and an average target price of C$60.10.
Get Our Latest Stock Report on Fortis
Fortis Stock Performance
Fortis (TSE:FTS – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported C$0.67 EPS for the quarter, topping analysts’ consensus estimates of C$0.65 by C$0.02. The business had revenue of C$2.67 billion during the quarter, compared to analysts’ expectations of C$2.71 billion. Fortis had a return on equity of 7.44% and a net margin of 14.35%. Research analysts anticipate that Fortis will post 3.3416115 EPS for the current fiscal year.
Insider Buying and Selling
In other Fortis news, Senior Officer James Reid sold 19,972 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of C$59.46, for a total transaction of C$1,187,493.18. 0.04% of the stock is owned by corporate insiders.
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.
Featured Stories
- Five stocks we like better than Fortis
- What Are the FAANG Stocks and Are They Good Investments?
- Analysts Predict 85% Upside for Wave Life Sciences After Rate Cut
- What is the Dow Jones Industrial Average (DJIA)?
- FedEx Stock Dips: Another Reason to Fear Recession Is Near
- What Makes a Stock a Good Dividend Stock?
- The Half-Penny Revolution: Will SEC’s Reform Benefit Investors?
Receive News & Ratings for Fortis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortis and related companies with MarketBeat.com's FREE daily email newsletter.