FirstEnergy Corp. (NYSE:FE) Expected to Announce Earnings of $0.58 Per Share

Wall Street brokerages expect FirstEnergy Corp. (NYSE:FEGet Rating) to post $0.58 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have issued estimates for FirstEnergy’s earnings, with estimates ranging from $0.51 to $0.65. FirstEnergy reported earnings per share of $0.59 in the same quarter last year, which suggests a negative year-over-year growth rate of 1.7%. The company is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that FirstEnergy will report full year earnings of $2.41 per share for the current financial year, with EPS estimates ranging from $2.38 to $2.46. For the next year, analysts anticipate that the firm will post earnings of $2.57 per share, with EPS estimates ranging from $2.54 to $2.62. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for FirstEnergy.

FirstEnergy (NYSE:FEGet Rating) last released its quarterly earnings data on Thursday, April 21st. The utilities provider reported $0.60 earnings per share 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 analyst estimates of $2.85 billion. FirstEnergy had a return on equity of 17.17% and a net margin of 10.85%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS.

A number of analysts recently issued reports on FE shares. Bank of America increased their price target on shares of FirstEnergy from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, January 18th. StockNews.com initiated coverage on shares of FirstEnergy in a report on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley increased 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, April 20th. Wells Fargo & Company increased their price objective on shares of FirstEnergy from $43.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, April 25th. Finally, Credit Suisse Group started coverage on shares of FirstEnergy in a report on Monday, April 25th. They set an “outperform” rating and a $51.00 price objective on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $46.78.

Shares of NYSE FE opened at $42.51 on Friday. The company’s fifty day moving average price is $44.92 and its 200 day moving average price is $41.99. FirstEnergy has a 1 year low of $35.42 and a 1 year high of $48.85. The company has a market capitalization of $24.27 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 2.75 and a beta of 0.37. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.45 and a current ratio of 0.52.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 6th will be issued a $0.39 dividend. The ex-dividend date is Thursday, May 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.67%. FirstEnergy’s payout ratio is 69.64%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Dixon Hughes Goodman Wealth Advisors LLC grew its stake in shares of FirstEnergy by 419.8% during the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 551 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 445 shares during the period. Prospera Financial Services Inc purchased a new stake in shares of FirstEnergy in the 1st quarter worth about $25,000. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of FirstEnergy in the 4th quarter worth about $27,000. Pinnacle Bancorp Inc. lifted its holdings in FirstEnergy by 126.3% in the 1st quarter. Pinnacle Bancorp Inc. now owns 611 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 341 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its holdings in FirstEnergy by 192.5% in the 3rd quarter. Jacobi Capital Management LLC now owns 816 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 537 shares in the last quarter. 87.78% of the stock is currently owned by 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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Earnings History and Estimates for FirstEnergy (NYSE:FE)

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