- Fortis reported an adjusted earnings per share (EPS) of C$0.76 for the second quarter, surpassing the previous year’s C$0.67 and exceeding the estimate of C$0.70.
- The company’s adjusted net income reached C$384 million, representing a 16% year-over-year increase and surpassing the estimate of C$353.1 million.
- Fortis anticipates that its long-term growth in rate base will drive earnings to support their dividend growth guidance of 4-6% annually until 2029.
- Analyst recommendations include 4 buys, 9 holds, and 5 sells for Fortis’ stock.
A look at Fortis /Canada Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Fortis Inc., a gas and electric distribution company operating in Canada, has garnered positive Smart Karma Smart Scores across key factors. With a strong Value and Dividend score of 4 each, Fortis showcases solid financials and attractive dividend payouts to investors. Although scoring slightly lower in Growth, Resilience, and Momentum at 3 each, Fortis maintains stability and consistent performance in its regulated utilities and non-regulated hydroelectric operations.
Looking ahead, Fortis holds a promising long-term outlook given its robust Value and Dividend scores, indicating a favorable position in the market for investors seeking steady returns. While Growth, Resilience, and Momentum scores may not be as high, the company’s established presence in the gas and electric distribution industry across Canada, the United States, and the Caribbean underscores its reliability and potential for continued success.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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