Analysts Anticipate FirstEnergy Corp. (NYSE:FE) Will Announce Earnings of $0.79 Per Share

Equities research analysts expect FirstEnergy Corp. (NYSE:FE) to post earnings per share of $0.79 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for FirstEnergy’s earnings. The highest EPS estimate is $0.81 and the lowest is $0.78. FirstEnergy posted earnings per share of $0.84 in the same quarter last year, which suggests a negative year-over-year growth rate of 6%. The company is scheduled to issue its next quarterly earnings report on Monday, November 1st.

According to Zacks, analysts expect that FirstEnergy will report full year earnings of $2.55 per share for the current fiscal year, with EPS estimates ranging from $2.52 to $2.57. For the next year, analysts anticipate that the company will post earnings of $2.55 per share, with EPS estimates ranging from $2.29 to $2.66. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover FirstEnergy.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Thursday, July 22nd. The utilities provider reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. FirstEnergy had a return on equity of 18.17% and a net margin of 9.98%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year.

A number of equities research analysts have recently commented on the company. Mizuho lifted their price objective on FirstEnergy from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, July 26th. Barclays boosted their price target on FirstEnergy from $37.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 25th. Wells Fargo & Company boosted their price target on FirstEnergy from $38.00 to $40.00 and gave the company an “underweight” rating in a research report on Monday, July 26th. Finally, Morgan Stanley upped their target price on FirstEnergy from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, August 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, FirstEnergy currently has a consensus rating of “Hold” and an average price target of $40.80.

Several large investors have recently bought and sold shares of FE. Oppenheimer Asset Management Inc. grew its holdings in FirstEnergy by 35.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 225,470 shares of the utilities provider’s stock worth $8,390,000 after buying an additional 58,662 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in FirstEnergy by 10.5% in the 2nd quarter. HighPoint Advisor Group LLC now owns 7,440 shares of the utilities provider’s stock worth $277,000 after buying an additional 708 shares in the last quarter. Frisch Financial Group Inc. bought a new position in FirstEnergy in the 1st quarter worth approximately $200,000. Advisor Group Holdings Inc. grew its holdings in FirstEnergy by 71.6% in the 2nd quarter. Advisor Group Holdings Inc. now owns 152,455 shares of the utilities provider’s stock worth $5,673,000 after buying an additional 63,608 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in FirstEnergy by 13.3% in the 2nd quarter. Sei Investments Co. now owns 378,705 shares of the utilities provider’s stock worth $14,080,000 after buying an additional 44,567 shares in the last quarter. 82.24% of the stock is owned by institutional investors.

Shares of NYSE:FE traded down $0.49 during midday trading on Thursday, reaching $37.31. The company’s stock had a trading volume of 1,588,359 shares, compared to its average volume of 3,704,450. The firm has a market cap of $20.30 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 3.54 and a beta of 0.24. The company has a quick ratio of 0.75, a current ratio of 0.83 and a debt-to-equity ratio of 3.10. FirstEnergy has a 1 year low of $26.17 and a 1 year high of $39.94. The business has a 50 day moving average price of $38.30 and a 200 day moving average price of $37.11.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 6th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Thursday, August 5th. FirstEnergy’s dividend payout ratio (DPR) is presently 65.27%.

About FirstEnergy

FirstEnergy Corp. engages in the generation, transmission and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates through the following business segments: Regulated Distribution, Regulated Transmission and Corporate. The Regulated Distribution segment distributes electricity through FirstEnergy’s utility operating companies, serving various customers.

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Earnings History and Estimates for FirstEnergy (NYSE:FE)

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