Fortis (FTS) Price Target Cut to C$48.00

Fortis (TSE:FTS) had its target price reduced by BMO Capital Markets from C$49.00 to C$48.00 in a report issued on Tuesday, September 11th.

Shares of FTS traded up C$0.39 during trading hours on Tuesday, hitting C$41.57. The company had a trading volume of 704,200 shares, compared to its average volume of 951,314. Fortis has a 52-week low of C$39.38 and a 52-week high of C$48.73.

Fortis (TSE:FTS) last posted its quarterly earnings results on Tuesday, July 31st. The company reported C$0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$0.57. The firm had revenue of C$1.95 billion during the quarter, compared to analyst estimates of C$2.06 billion. Fortis had a return on equity of 8.20% and a net margin of 16.89%.

Fortis Company Profile

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It generates, transmits, and distributes electricity to approximately 422,000 retail customers in southeastern Arizona; and 96,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 2,834 megawatts (MW), including 64 MW of solar capacity.

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Analyst Recommendations for Fortis (TSE:FTS)

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