Fortis Inc. (TSE:FTS – Free Report) – Equities researchers at National Bank Financial issued their Q3 2024 earnings estimates for Fortis in a research note issued on Wednesday, October 23rd. National Bank Financial analyst P. Kenny expects that the company will post earnings per share of $0.82 for the quarter. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.
Fortis (TSE:FTS – Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported C$0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.65 by C$0.02. Fortis had a return on equity of 7.44% and a net margin of 14.35%. The firm had revenue of C$2.67 billion during the quarter, compared to analysts’ expectations of C$2.71 billion.
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Fortis Price Performance
The company has a quick ratio of 0.36, a current ratio of 0.69 and a debt-to-equity ratio of 128.59. The firm has a market capitalization of C$30.15 billion, a PE ratio of 19.11, a P/E/G ratio of 3.01 and a beta of 0.23. Fortis has a 52-week low of C$51.02 and a 52-week high of C$62.47. The stock’s fifty day moving average price is C$60.52 and its 200-day moving average price is C$56.66.
Insider Activity at Fortis
In other Fortis news, Senior Officer James Reid sold 19,972 shares of the business’s stock in a transaction that occurred on 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 currently owned by company insiders.
Fortis Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of ∞. This is a boost from Fortis’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, November 18th. Fortis’s dividend payout ratio is presently 77.12%.
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.
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