What is Scotiabank’s Forecast for Fortis FY2026 Earnings?

Fortis Inc. (TSE:FTS) – Equities research analysts at Scotiabank reduced their FY2026 earnings estimates for Fortis in a research note issued to investors on Thursday, May 14th. Scotiabank analyst R. Hope now expects that the company will post earnings of $3.60 per share for the year, down from their prior forecast of $3.62. Scotiabank currently has a “Sector Perform” rating and a $80.00 target price on the stock. The consensus estimate for Fortis’ current full-year earnings is $3.34 per share.

Fortis (TSE:FTS) last issued its earnings results on Wednesday, May 6th. The company reported C$0.99 earnings per share for the quarter. Fortis had a net margin of 14.75% and a return on equity of 7.51%. The company had revenue of C$3.40 billion for the quarter.

Several other research analysts have also weighed in on FTS. Jefferies Financial Group lowered their target price on shares of Fortis from C$72.00 to C$70.00 in a research report on Wednesday, January 28th. Royal Bank Of Canada upped their target price on shares of Fortis from C$79.00 to C$80.00 and gave the stock a “sector perform” rating in a research report on Friday, February 13th. TD upped their target price on shares of Fortis from C$83.00 to C$84.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Raymond James Financial upped their target price on shares of Fortis from C$78.50 to C$80.50 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Finally, National Bank Financial upped their target price on shares of Fortis from C$74.00 to C$75.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$78.68.

Fortis Trading Up 0.5%

Shares of FTS opened at C$77.41 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.36 and a debt-to-equity ratio of 145.23. The firm’s 50-day moving average is C$77.85 and its two-hundred day moving average is C$74.53. Fortis has a twelve month low of C$63.54 and a twelve month high of C$80.69. The firm has a market capitalization of C$39.41 billion, a P/E ratio of 22.83, a PEG ratio of 3.01 and a beta of 0.47.

Fortis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, June 1st will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, May 15th. Fortis’s dividend payout ratio is 74.04%.

Insider Activity

In other Fortis news, insider Karen J. Gosse sold 8,412 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of C$78.18, for a total value of C$657,650.16. Following the sale, the insider owned 52,228 shares of the company’s stock, valued at C$4,083,185.04. This represents a 13.87% decrease in their ownership of the stock. 0.04% of the stock is owned by company insiders.

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. states, with more than 16,000 miles of high-voltage transmission lines in operation serving a peak load in excess of 23 gigawatts.