Fortis Outperforms Utility Peers with 5.24% Weekly Gain and Earnings Upgrades
Fortis shares rose 5.24% over the past week and 9.45% monthly, outperforming the Electric Power industry's 4.55% and 7.16% gains. Consensus earnings estimates climbed from $2.56 to $2.63 for the full year as four upward revisions outnumbered none, supporting a Momentum Style Score of A and Zacks Rank #2.
1. Price Momentum Trends
Fortis shares increased 5.24% over the past week and 9.45% in the last month, outpacing the Electric Power industry's 4.55% weekly and 7.16% monthly gains. Quarterly and annual returns stand at 10.22% and 26.65% respectively, compared with the S&P 500's 1.74% and 13.08%.
2. Earnings Estimate Revisions
Over the past 60 days, four full-year earnings estimates for Fortis rose while none were lowered, lifting the consensus from $2.56 to $2.63. For the next fiscal year, two upward revisions and zero downward changes reflect growing analyst confidence in the company’s outlook.
3. Style Scores and Analyst Ratings
Fortis holds a Zacks Momentum Style Score of A and a Zacks Rank #2 (Buy), signaling strong recent trend performance and positive earnings revision momentum. These ratings suggest Fortis may maintain its upward trajectory in the near term based on historical outperformance trends.