Raymond James Issues Optimistic Estimate for Fortis Earnings

Fortis Inc. (TSE:FTS) – Investment analysts at Raymond James upped their Q1 2025 EPS estimates for Fortis in a research note issued on Thursday, April 17th. Raymond James analyst T. Genzebu now forecasts that the company will post earnings per share of $0.97 for the quarter, up from their prior forecast of $0.94. Raymond James has a “Market Perform” rating and a $62.50 price target on the stock. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share. Raymond James also issued estimates for Fortis’ 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.

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

Fortis Stock Performance

Shares of Fortis stock opened at C$66.70 on Friday. The company has a market cap of C$33.00 billion, a P/E ratio of 19.80, a PEG ratio of 3.01 and a beta of 0.23. The company has a current ratio of 0.74, a quick ratio of 0.36 and a debt-to-equity ratio of 142.31. 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 1-year low of C$51.59 and a 1-year high of C$67.52.

Fortis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 16th will be given a $0.615 dividend. This represents a $2.46 annualized dividend and a yield of 3.69%. Fortis’s payout ratio is 73.02%.

About Fortis

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.