Fortis (FTS) Hits Fresh High: Is There Still Room to Run?

Core Viewpoint - Fortis has demonstrated strong stock performance, with a 5.2% increase over the past month and a 20% gain since the beginning of the year, outperforming both the Zacks Utilities sector and the Zacks Utility - Electric Power industry [1][2]. Group 1: Stock Performance - Fortis shares reached a new 52-week high of $50.56 recently [1]. - The stock has consistently beaten earnings estimates, with the latest EPS reported at $0.55 against a consensus of $0.51 [2]. Group 2: Earnings Projections - For the current fiscal year, Fortis is projected to achieve earnings of $2.49 per share on revenues of $9.02 billion, reflecting a 4.18% increase in EPS and a 7.36% increase in revenues [3]. - The next fiscal year forecasts earnings of $2.58 per share on revenues of $9.34 billion, indicating year-over-year changes of 3.77% and 3.57%, respectively [3]. Group 3: Valuation Metrics - Fortis trades at 20 times the current fiscal year EPS estimates, which is above the peer industry average of 18.9 times [7]. - The stock's trailing cash flow multiple is 9.6 times, compared to the peer group's average of 8.1 times, and it has a PEG ratio of 3.91 [7]. Group 4: Zacks Rank and Style Scores - Fortis holds a Zacks Rank of 2 (Buy), supported by a positive earnings estimate revision trend [8]. - The stock has a Value Score of C, a Growth Score of B, and a Momentum Score of C, resulting in a combined VGM Score of B [6][8].