Fortis Inc. faces lowered earnings estimates from Scotiabank

Scotiabank analysts have lowered their FY2027 earnings per share estimate for Fortis Inc. to $3.83, down from a previous projection of $3.84. The current consensus estimate for the company's full-year earnings stands at $3.34 per share.

Other financial institutions have provided varying outlooks for the utility company. Desjardins recently increased its price objective from C$81.00 to C$85.00 with a “buy” rating, while National Bank Financial raised its target price to C$82.00. Conversely, the Canadian Imperial Bank of Commerce downgraded the stock from a “strong-buy” to a “hold” rating.

Fortis is a major Canadian utility provider with a market capitalization of approximately C$38.46 billion. The company operates regulated utilities across several Canadian provinces, multiple U.S. states, and the Caribbean. Known for its low volatility and a beta of 0.41, the company is often viewed by investors as a resilient asset during market fluctuations due to the essential nature of its electricity and gas services.