Equities analysts expect FirstEnergy Corp. (NYSE:FE – Get Rating) to report earnings of $0.60 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for FirstEnergy’s earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.56. FirstEnergy reported earnings of $0.59 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.7%. The firm is scheduled to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that FirstEnergy will report full year earnings of $2.42 per share for the current year, with EPS estimates ranging from $2.38 to $2.46. For the next fiscal year, analysts anticipate that the business will post earnings of $2.57 per share, with EPS estimates ranging from $2.55 to $2.62. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that cover FirstEnergy.
FirstEnergy (NYSE:FE – Get Rating) last issued its quarterly earnings data on Thursday, April 21st. The utilities provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.85 billion. FirstEnergy had a return on equity of 17.65% and a net margin of 10.85%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS.
A number of equities research analysts have recently weighed in on FE shares. Morgan Stanley boosted their price objective on shares of FirstEnergy from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday. Zacks Investment Research upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating and set a $47.00 target price for the company in a research report on Wednesday, March 16th. Bank of America upped their price objective on shares of FirstEnergy from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, January 18th. Evercore ISI upgraded shares of FirstEnergy from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $40.00 to $46.00 in a research report on Friday, January 7th. Finally, StockNews.com assumed coverage on shares of FirstEnergy in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, FirstEnergy has a consensus rating of “Hold” and a consensus price target of $45.38.
Large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of FirstEnergy by 5.4% in the fourth quarter. BlackRock Inc. now owns 43,236,791 shares of the utilities provider’s stock valued at $1,798,218,000 after purchasing an additional 2,215,694 shares during the period. Geode Capital Management LLC lifted its stake in shares of FirstEnergy by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 9,790,945 shares of the utilities provider’s stock valued at $406,102,000 after purchasing an additional 287,488 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of FirstEnergy in the fourth quarter valued at about $253,315,000. Brookfield Asset Management Inc. lifted its stake in shares of FirstEnergy by 12.4% in the third quarter. Brookfield Asset Management Inc. now owns 5,675,026 shares of the utilities provider’s stock valued at $202,144,000 after purchasing an additional 626,898 shares during the period. Finally, Morgan Stanley lifted its stake in shares of FirstEnergy by 20.5% in the third quarter. Morgan Stanley now owns 4,713,599 shares of the utilities provider’s stock valued at $167,897,000 after purchasing an additional 802,756 shares during the period. 87.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of FE traded down $2.11 during trading hours on Friday, reaching $46.01. 5,208,463 shares of the company traded hands, compared to its average volume of 3,206,046. The stock has a market capitalization of $26.27 billion, a P/E ratio of 20.54, a P/E/G ratio of 3.13 and a beta of 0.35. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 2.56. FirstEnergy has a 12-month low of $35.42 and a 12-month high of $48.85. The business has a fifty day moving average price of $44.35 and a 200-day moving average price of $41.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 6th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.39%. The ex-dividend date is Thursday, May 5th. FirstEnergy’s payout ratio is currently 69.64%.
FirstEnergy Company Profile (Get Rating)
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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