Fortis (FTS) Expected to Announce Quarterly Earnings on Friday

Fortis (NYSE:FTS) is expected to be posting its quarterly earnings results before the market opens on Friday, February 14th. Analysts expect Fortis to post earnings of $0.57 per share and revenue of $2.34 billion for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Fortis Stock Performance

Shares of FTS opened at $43.89 on Wednesday. Fortis has a one year low of $36.86 and a one year high of $46.06. The company has a 50-day moving average of $42.35 and a two-hundred day moving average of $43.46. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.74 and a quick ratio of 0.63. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 3.94 and a beta of 0.50.

Fortis Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, February 18th will be paid a $0.4382 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Tuesday, February 18th. Fortis’s dividend payout ratio is 79.41%.

Wall Street Analysts Forecast Growth

Separately, Raymond James downgraded shares of Fortis from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th.

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.