Wall Street analysts expect FirstEnergy Corp. (NYSE:FE) to announce sales of $2.82 billion for the current quarter, according to Zacks. Two analysts have made estimates for FirstEnergy’s earnings. The highest sales estimate is $2.84 billion and the lowest is $2.80 billion. FirstEnergy reported sales of $2.67 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.6%. The business is expected to announce its next quarterly earnings report on Friday, February 5th.
On average, analysts expect that FirstEnergy will report full-year sales of $11.05 billion for the current fiscal year, with estimates ranging from $10.99 billion to $11.09 billion. For the next fiscal year, analysts forecast that the company will report sales of $11.74 billion, with estimates ranging from $11.52 billion to $12.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for FirstEnergy.
FirstEnergy (NYSE:FE) last released its quarterly earnings results on Saturday, November 7th. The utilities provider reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.05. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.95 billion. FirstEnergy had a return on equity of 20.15% and a net margin of 6.64%. The company’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 earnings per share.
Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on FirstEnergy from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, December 15th. Bank of America downgraded FirstEnergy from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research report on Friday, November 20th. BidaskClub downgraded FirstEnergy from a “buy” rating to a “hold” rating in a research report on Monday, December 28th. Wells Fargo & Company downgraded FirstEnergy from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $31.00 to $32.00 in a research report on Wednesday, January 6th. Finally, Barclays increased their price objective on FirstEnergy from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 18th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $41.41.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Alpha LLC acquired a new position in shares of FirstEnergy in the third quarter worth $51,000. UBS Asset Management Americas Inc. increased its stake in shares of FirstEnergy by 9.1% in the third quarter. UBS Asset Management Americas Inc. now owns 1,738,157 shares of the utilities provider’s stock worth $49,902,000 after acquiring an additional 144,273 shares during the last quarter. Sei Investments Co. increased its stake in shares of FirstEnergy by 2.3% in the third quarter. Sei Investments Co. now owns 282,055 shares of the utilities provider’s stock worth $8,111,000 after acquiring an additional 6,262 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of FirstEnergy by 3.2% in the third quarter. Public Employees Retirement System of Ohio now owns 223,252 shares of the utilities provider’s stock worth $6,410,000 after acquiring an additional 6,882 shares during the last quarter. Finally, Brinker Capital Investments LLC acquired a new position in shares of FirstEnergy in the third quarter worth $444,000. 71.09% of the stock is currently owned by institutional investors and hedge funds.
NYSE:FE opened at $30.79 on Thursday. The firm has a market capitalization of $16.71 billion, a PE ratio of 22.81 and a beta of 0.16. The stock has a 50 day moving average of $29.49 and a 200-day moving average of $30.79. FirstEnergy has a 52 week low of $22.85 and a 52 week high of $52.51. The company has a current ratio of 0.70, a quick ratio of 0.60 and a debt-to-equity ratio of 3.09.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 1st. Stockholders of record on Friday, February 5th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend is Thursday, February 4th. FirstEnergy’s dividend payout ratio (DPR) is presently 60.47%.
FirstEnergy Company Profile
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
Featured Story: What is the cash asset ratio?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.