Fortis (FTS) to Release Quarterly Earnings on Wednesday

Fortis (NYSE:FTS) is scheduled to release its earnings data before the market opens on Wednesday, July 31st. Analysts expect Fortis to post earnings of $0.47 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Fortis (NYSE:FTS) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.43 billion. Fortis had a return on equity of 7.02% and a net margin of 13.66%. On average, analysts expect Fortis to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fortis Stock Performance

Shares of Fortis stock opened at $41.07 on Tuesday. The company has a market cap of $20.33 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.93 and a beta of 0.45. Fortis has a 52 week low of $36.30 and a 52 week high of $42.78. The business has a 50 day moving average price of $39.65 and a 200-day moving average price of $39.57. The company has a quick ratio of 0.52, a current ratio of 0.60 and a debt-to-equity ratio of 1.24.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Fortis from a “hold” rating to a “sell” rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Fortis presently has an average rating of “Hold” and an average price target of $55.13.

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.