The stock of Fortis Inc. (NYSE:FTS) decreased by -$0.13 on Friday to finish at $39.29, down -0.33 percent. The last five days have seen an average of 584,180 shares of common stock traded. 18 times new highs were reached in the current year, with a fall of -$0.75. The average number of shares traded over the last 20 days was 636,105, while the average volume over the last 50 days totaled 563,664.
FTS stock dropped -8.22% since last month. On 08/21/23, the company’s shares reached a one-month low of $39.00. The stock touched a high of $46.28 on 05/10/23, after rallying from a low of $34.76 in 52 weeks. The price of FTS stock has declined by -1.87% or -$0.75 this year, reaching a new high 18 times. Still, the stock price is down -15.10% from the 52-week high.
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Valuation Metrics
Fortis Inc. (FTS) has a trailing price-to-earnings (P/E) ratio of 13.29. Beta for the stock is 0.46. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.24, the price-to-book (PB) ratio of 0.97.
Company paid $0.4270 per share in dividends, a decrease of -24.42% from $0.5650 last year. A $0.1380 dividend decrease was reported on Tuesday August 1 2023.
Financial Health
For the three months ended June 29, Fortis Inc.’s quick ratio was 0.70, while its current ratio was 0.80, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.37, and the total debt to equity ratio is 1.49. As far as profitability goes, gross margin for the trailing twelve months is 64.10% percent. Fortis Inc.’s EBITDA margin for the year ended June 29 was 39.92%, whereas its operating margin stood at 25.20% for the same period. Based on annual data, it had gross profit of $2.11 billion and revenue of $8.49 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. FTS’s return on assets (ROA) during the last 12 months has been 2.20%. There was a 5.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 7.30%.
Earnings Surprise
According to Fortis Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. It was predicted that Fortis Inc.’s quarterly earnings would be $0.46, but it ended up being $0.45, beating the consensus by 2.20%. EBITDA was $800.01 million for the quarter. At the end of Fortis Inc.’s most recent quarter ended June 29, its liabilities totaled 30.42 billion, while its total debt was $29.51 billion.
Technical Picture
Here’s a quick look at Fortis Inc.’s (FTS) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 31.67%, suggesting the stock is Neutral, with a 9.75% historical volatility rate.
The stochastic %K and %D were 20.70% and 20.73% respectively, while the average true range (ATR) was 0.53. Based on the 14-day stochastic reading of 13.24%, the RSI (14) reading is 33.83%. On the 9-day MACD Oscillator, the stock is at -0.10, and the 14-day reading is at -0.42.
Analyst Ratings
In its most recent analyst report, Wells Fargo raised its rating on Fortis Inc. (NYSE: FTS) to an Equal weight. Prior to this, analysts firm rated the stock as an Underweight. Analysts have assigned Fortis Inc. (FTS) an Hold rating. FTS is a stock that is recommended for selling by 2 brokerage firms, while 8 companies recommend holding. The stock is underweighted by 2 analysts. Among the analysts who rate the stock, 2 rates it overweight and 2 others recommend it as a buy.
What is FTS’s price target for the next 12 months?
The current consensus forecast for the stock is between $37.61 and $48.65, with a median target price of $44.41. In analyzing these forecasts, the average price target given by analysts for Fortis Inc. (FTS) is $43.87.
