Raymond James Has Lowered Expectations for Fortis (TSE:FTS) Stock Price

Fortis (TSE:FTS) had its price objective lowered by investment analysts at Raymond James from C$69.00 to C$62.50 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. Raymond James’ price target would indicate a potential downside of 6.30% from the company’s current price. Raymond James also issued estimates for Fortis’ Q1 2025 earnings at $0.97 EPS, FY2025 earnings at $3.38 EPS, Q1 2026 earnings at $1.01 EPS, Q2 2026 earnings at $0.68 EPS, Q3 2026 earnings at $0.87 EPS, Q4 2026 earnings at $0.99 EPS and FY2026 earnings at $3.55 EPS.

Several other equities research analysts also recently weighed in on the company. Scotiabank increased their price target on Fortis from C$63.00 to C$66.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. UBS Group raised their target price on shares of Fortis from C$58.00 to C$63.00 in a research note on Friday, March 21st. Royal Bank of Canada boosted their price target on shares of Fortis from C$65.00 to C$69.00 in a research note on Tuesday, February 18th. Jefferies Financial Group raised their price objective on shares of Fortis from C$67.00 to C$70.00 in a research report on Monday, April 14th. Finally, CIBC boosted their target price on Fortis from C$65.00 to C$68.00 in a research report on Friday, April 4th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$63.05.

Fortis Stock Up 1.0 %

FTS opened at C$66.70 on Thursday. The business has a 50 day moving average price of C$64.14 and a two-hundred day moving average price of C$62.09. Fortis has a 52 week low of C$51.59 and a 52 week high of C$67.52. The company has a market cap of C$33.00 billion, a PE ratio of 19.80, a P/E/G ratio of 3.01 and a beta of 0.23. The company has a quick ratio of 0.36, a current ratio of 0.74 and a debt-to-equity ratio of 142.31.

Fortis Company Profile

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S.