Menu Close

Fortis (TSE:FTS) Stock Rating Lowered by Scotiabank

view original post

Fortis (TSE:FTS) was downgraded by stock analysts at Scotiabank from an “outperform” rating to a “hold” rating in a research report issued on Friday, Price reports. They currently have a C$60.00 price objective on the stock. Scotiabank’s price target would indicate a potential upside of 1.97% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Royal Bank of Canada boosted their price objective on Fortis from C$59.00 to C$60.00 and gave the stock a “sector perform” rating in a research report on Monday, November 1st. Wolfe Research cut Fortis to a “sell” rating in a report on Tuesday, October 19th. Raymond James reaffirmed a “market perform” rating and issued a C$58.00 price target on shares of Fortis in a report on Monday, November 1st. CSFB upped their price target on Fortis from C$58.00 to C$60.00 in a report on Thursday, November 18th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Fortis in a report on Tuesday, September 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Fortis has an average rating of “Hold” and a consensus target price of C$59.42.

TSE FTS opened at C$58.84 on Friday. Fortis has a twelve month low of C$48.97 and a twelve month high of C$61.54. The company has a debt-to-equity ratio of 123.25, a quick ratio of 0.44 and a current ratio of 0.77. The stock has a market capitalization of C$27.83 billion and a PE ratio of 22.38. The stock has a 50-day simple moving average of C$57.94 and a 200 day simple moving average of C$57.19.

Fortis (TSE:FTS) last posted its quarterly earnings data on Friday, October 29th. The company reported C$0.64 earnings per share for the quarter, hitting the consensus estimate of C$0.64. The business had revenue of C$2.20 billion for the quarter, compared to analyst estimates of C$2.11 billion. As a group, equities research analysts forecast that Fortis will post 2.8599999 EPS for the current fiscal year.

About Fortis

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 433,000 retail customers in southeastern Arizona; and 98,000 retail customers in Arizona’s Mohave and Santa Cruz counties with an aggregate capacity of 3,233 megawatts (MW), including 59 MW of solar capacity.

See Also: Quantitative Easing

Want More Great Investing Ideas?