The stock of Fortis Inc. (NYSE: FTS) has decreased by -0.48 when compared to last closing price of 43.34.Despite this, the company has seen a loss of -3.96% in its stock price over the last five trading days. globenewswire.com reported 2024-10-07 that ST. JOHN’S, Newfoundland and Labrador, Oct. 07, 2024 (GLOBE NEWSWIRE) — Fortis Inc. (“Fortis” or the “Corporation”) (TSX/NYSE: FTS) will release its third quarter 2024 financial results on Tuesday, November 5, 2024. A teleconference and webcast will be held the same day at 8:30 a.m. (Eastern). David Hutchens, President and Chief Executive Officer and Jocelyn Perry, Executive Vice President and Chief Financial Officer will discuss the Corporation’s third quarter financial results.
Is It Worth Investing in Fortis Inc. (NYSE: FTS) Right Now?
The price-to-earnings ratio for Fortis Inc. (NYSE: FTS) is above average at 18.31x. The 36-month beta value for FTS is also noteworthy at 0.45. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for FTS is 494.53M, and at present, short sellers hold a 2.11% of that float. The average trading volume of FTS on October 11, 2024 was 641.46K shares.
FTS’s Market Performance
The stock of Fortis Inc. (FTS) has seen a -3.96% decrease in the past week, with a -3.64% drop in the past month, and a 7.96% gain in the past quarter. The volatility ratio for the week is 1.23%, and the volatility levels for the past 30 days are at 1.19% for FTS. The simple moving average for the last 20 days is -3.80% for FTS’s stock, with a simple moving average of 5.61% for the last 200 days.
FTS Trading at -2.32% from the 50-Day Moving Average
After a stumble in the market that brought FTS to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -6.36% of loss for the given period.
Volatility was left at 1.19%, however, over the last 30 days, the volatility rate increased by 1.23%, as shares sank -4.54% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.08% upper at present.
During the last 5 trading sessions, FTS fell by -3.96%, which changed the moving average for the period of 200-days by +5.94% in comparison to the 20-day moving average, which settled at $44.83. In addition, Fortis Inc. saw 4.86% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for FTS
Current profitability levels for the company are sitting at:
- 0.28 for the present operating margin
- 0.49 for the gross margin
The net margin for Fortis Inc. stands at 0.14. The total capital return value is set at 0.05. Equity return is now at value 7.37, with 2.45 for asset returns.
Based on Fortis Inc. (FTS), the company’s capital structure generated 0.58 points at debt to capital in total, while cash flow to debt ratio is standing at 0.1. The debt to equity ratio resting at 1.38. The interest coverage ratio of the stock is 2.38.
Currently, EBITDA for the company is 5.01 billion with net debt to EBITDA at 6.06. When we switch over and look at the enterprise to sales, we see a ratio of 5.31. The receivables turnover for the company is 6.37for trailing twelve months and the total asset turnover is 0.17. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.69.
Conclusion
In summary, Fortis Inc. (FTS) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.