Fortis Inc's stock has seen a slight decline this week amidst ongoing discussions about its upcoming financial results.
Fortis Inc (FTS.TO) closed at C$80.55, down 1.66% on the day and 1.36% over the past week. The utility giant continues to hold its ground with a year-to-date gain of 13.71%, but recent price movements indicate a cautious sentiment among investors as they await upcoming earnings announcements.
Investor takeaway: Investors should keep an eye on Fortis' upcoming earnings call and dividend announcements, as these could provide insights into the company's performance and future outlook.
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Fortis Inc
FTS.TO
FTS.TO
Fortis Inc
WealthAwesomeMarket cap
$39.66B
P/E
22.8x
Div. yield
3.26%
Div. / share
$2.54
52W high
$83.07
52W low
$64.93
1W change
-1.01%
Beta
0.43
Analyst Price Targets
Based on analyst covering FTS
Wall Street analysts forecast FTS stock price to rise 7.2% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$83.25
+7.2% Upside
Current Price
C$77.63
Last close
Analyst ratings and price targets are updated periodically. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on FTS's historical volatility
30-Day Vol
12.1%
Annualized
90-Day Vol
14.5%
Annualized
Trend (90d)
-3.1%
Annualized drift
90d Mean
C$76.78
Expected price
| Horizon | Expected | 68% Range (1ฯ) |
|---|---|---|
| 30 trading days | C$77.35 | C$74.18 โ C$80.65 |
| 60 trading days | C$77.06 | C$72.64 โ C$81.75 |
| 90 trading days | C$76.78 | C$71.42 โ C$82.54 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ยฑ1ฯ, 95% band = ยฑ2ฯ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
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Fortis Inc's stock is currently trading at C$80.55, down 1.66% on the day.
With a beta of 0.43, Fortis Inc's stock exhibits lower volatility compared to the broader market, making it a potentially safer investment in uncertain times.
Bull case
Fortis has a solid market cap of approximately C$41.95 billion and maintains a strong profit margin of 14.7%. This suggests stability in its operations. The stock's year-to-date performance also indicates resilience in a challenging market.
Bear case
Despite its strong fundamentals, the stock's recent downward trend and its position near the upper end of its 52-week range may raise concerns for some investors. The upcoming earnings report could reveal challenges that might impact future growth.
Recent Price Action
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Fortis Inc saw its stock close at C$80.55, reflecting a decrease of 1.66% for the day. Over the past week, the stock has declined by 1.36%, while maintaining a year-to-date increase of 13.71%. This performance indicates a mix of investor sentiment as the company approaches critical earnings announcements.
Company News
Fortis Inc is gearing up for significant events, including a teleconference and webcast scheduled for July 31 to discuss its second quarter results. Investors will be closely watching this for insights into the company's financial health. Additionally, Fortis has announced its third-quarter dividends, which could positively influence investor sentiment.
Technical Picture
Analyzing Fortis' technical indicators reveals that the stock is currently trading above its 50-day moving average of C$79.86 by 0.9% and well above its 200-day moving average of C$75.79 by 6.3%. The stock has a 52-week range of C$65.17 to C$83.75, suggesting it is currently trading at approximately 83% of its range. With a beta of 0.43, Fortis Inc presents a lower volatility profile, which may attract conservative investors.
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