FirstEnergy Corp. (NYSE:FE) Expected to Post Earnings of $0.51 Per Share

Wall Street brokerages forecast that FirstEnergy Corp. (NYSE:FEGet Rating) will announce $0.51 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for FirstEnergy’s earnings, with estimates ranging from $0.50 to $0.53. FirstEnergy posted earnings of $0.59 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 13.6%. The firm is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that FirstEnergy will report full year earnings of $2.42 per share for the current financial year, with EPS estimates ranging from $2.39 to $2.46. For the next financial year, analysts expect that the business will report earnings of $2.56 per share, with EPS estimates ranging from $2.50 to $2.62. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow FirstEnergy.

FirstEnergy (NYSE:FEGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The utilities provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.02). The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.85 billion. FirstEnergy had a return on equity of 17.17% and a net margin of 10.85%. FirstEnergy’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS.

Several equities research analysts recently commented on the stock. Morgan Stanley cut their price target on shares of FirstEnergy from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, May 23rd. Bank of America lowered shares of FirstEnergy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $52.00 to $44.00 in a report on Monday, May 16th. Credit Suisse Group initiated coverage on shares of FirstEnergy in a report on Monday, April 25th. They set an “outperform” rating and a $51.00 target price for the company. KeyCorp upped their target price on shares of FirstEnergy from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, April 20th. Finally, StockNews.com initiated coverage on shares of FirstEnergy in a report on Thursday, March 31st. They set a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.33.

Shares of NYSE FE opened at $41.88 on Friday. The firm has a market cap of $23.91 billion, a PE ratio of 18.70, a PEG ratio of 2.76 and a beta of 0.37. The firm has a fifty day moving average of $44.55 and a 200 day moving average of $42.39. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.45 and a current ratio of 0.52. FirstEnergy has a one year low of $35.42 and a one year high of $48.85.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 6th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Thursday, May 5th. FirstEnergy’s dividend payout ratio is currently 69.64%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. lifted its position in FirstEnergy by 8.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 120,372 shares of the utilities provider’s stock valued at $5,006,000 after buying an additional 9,301 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in FirstEnergy by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,885,158 shares of the utilities provider’s stock valued at $119,994,000 after buying an additional 83,142 shares during the last quarter. Sciencast Management LP lifted its position in shares of FirstEnergy by 454.9% during the fourth quarter. Sciencast Management LP now owns 35,515 shares of the utilities provider’s stock worth $1,472,000 after purchasing an additional 29,115 shares in the last quarter. Stephens Inc. AR lifted its position in shares of FirstEnergy by 13.0% during the fourth quarter. Stephens Inc. AR now owns 15,388 shares of the utilities provider’s stock worth $640,000 after purchasing an additional 1,770 shares in the last quarter. Finally, Equitable Holdings Inc. lifted its position in shares of FirstEnergy by 17.1% during the fourth quarter. Equitable Holdings Inc. now owns 7,077 shares of the utilities provider’s stock worth $294,000 after purchasing an additional 1,034 shares in the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

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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