Fortis Pref M Preferred Stock Fundamentals
| FTS-PM Preferred Stock | CAD 20.60 0.15 0.73% |
Fortis Pref M fundamentals help investors to digest information that contributes to Fortis Pref's financial success or failures. It also enables traders to predict the movement of Fortis Preferred Stock. The fundamental analysis module provides a way to measure Fortis Pref's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Fortis Pref preferred stock.
Fortis |
Fortis Pref M Company Beta Analysis
Fortis Pref's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current Fortis Pref Beta | 0.23 |
Most of Fortis Pref's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Fortis Pref M is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, Fortis Pref M has a Beta of 0.229. This is 49.11% lower than that of the Electric Utilities sector and 32.65% lower than that of the Utilities industry. The beta for all Canada preferred stocks is notably lower than that of the firm.
Fortis Pref M Fundamental Drivers Relationships
Comparative valuation techniques use various fundamental indicators to help in determining Fortis Pref's current stock value. Our valuation model uses many indicators to compare Fortis Pref value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Fortis Pref competition to find correlations between indicators driving Fortis Pref's intrinsic value. More Info.Fortis Pref M is one of the top stocks in price to earning category among its peers. It also is one of the top stocks in price to sales category among its peers fabricating about 0.56 of Price To Sales per Price To Earning. The ratio of Price To Earning to Price To Sales for Fortis Pref M is roughly 1.79 . Comparative valuation analysis is a catch-all model that can be used if you cannot value Fortis Pref by discounting back its dividends or cash flows. This model doesn't attempt to find an intrinsic value for Fortis Pref's Preferred Stock. Still, instead, it compares the stock's price multiples to a benchmark or nearest competition to determine if the stock is relatively undervalued or overvalued.Fortis Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Fortis Pref's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the preferred stocks which would be a good addition to a portfolio. Peer analysis of Fortis Pref could also be used in its relative valuation, which is a method of valuing Fortis Pref by comparing valuation metrics of similar companies.Fortis Pref is currently under evaluation in beta category among its peers.
As returns on the market increase, Fortis Pref's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fortis Pref is expected to be smaller as well.
Fortis Fundamentals
| Return On Equity | 0.0744 | ||||
| Return On Asset | 0.0309 | ||||
| Profit Margin | 0.14 % | ||||
| Operating Margin | 0.28 % | ||||
| Current Valuation | 44.9 B | ||||
| Shares Outstanding | 426.6 M | ||||
| Shares Owned By Institutions | 26.70 % | ||||
| Number Of Shares Shorted | 42.42 K | ||||
| Price To Earning | 4.52 X | ||||
| Price To Sales | 2.52 X | ||||
| Revenue | 11.52 B | ||||
| Gross Profit | 4.41 B | ||||
| EBITDA | 5.12 B | ||||
| Net Income | 1.57 B | ||||
| Cash And Equivalents | 191 M | ||||
| Cash Per Share | 0.44 X | ||||
| Total Debt | 2.42 B | ||||
| Debt To Equity | 125.00 % | ||||
| Current Ratio | 0.62 X | ||||
| Book Value Per Share | 42.66 X | ||||
| Cash Flow From Operations | 3.67 B | ||||
| Short Ratio | 2.33 X | ||||
| Earnings Per Share | 2.59 X | ||||
| Number Of Employees | 9.6 K | ||||
| Beta | 0.23 | ||||
| Market Capitalization | 28.75 B | ||||
| Total Asset | 65.92 B | ||||
| Retained Earnings | 4.11 B | ||||
| Working Capital | (1.94 B) | ||||
| Annual Yield | 0.05 % | ||||
| Net Asset | 65.92 B | ||||
| Last Dividend Paid | 2.34 |
About Fortis Pref Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Fortis Pref M's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Fortis Pref using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Fortis Pref M based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean. It also owns and operates transmission and distribution lines and natural gas pipelines. FORTIS INC operates under Utilities - Regulated Electric classification in Canada and is traded on Toronto Stock Exchange. It employs 8800 people.
Pair Trading with Fortis Pref
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Fortis Pref position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Fortis Pref will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Fortis Pref could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fortis Pref when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Fortis Pref - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Fortis Pref M to buy it.
The correlation of Fortis Pref is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fortis Pref moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fortis Pref M moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Fortis Pref can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Fortis Preferred Stock
Fortis Pref financial ratios help investors to determine whether Fortis Preferred Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Fortis with respect to the benefits of owning Fortis Pref security.