Brokerages Anticipate FirstEnergy Corporation (FE) to Post $0.86 EPS
Equities analysts expect that FirstEnergy Corporation (NYSE:FE) will announce earnings of $0.86 per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for FirstEnergy Corporation’s earnings. The lowest EPS estimate is $0.85 and the highest is $0.88. FirstEnergy Corporation posted earnings of $0.90 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.4%. The firm is scheduled to announce its next earnings results on Friday, November 3rd.
On average, analysts expect that FirstEnergy Corporation will report full-year earnings of $2.83 per share for the current financial year, with EPS estimates ranging from $2.80 to $2.86. For the next fiscal year, analysts forecast that the business will report earnings of $2.52 per share, with EPS estimates ranging from $2.48 to $2.59. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for FirstEnergy Corporation.
FirstEnergy Corporation (NYSE:FE) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. FirstEnergy Corporation had a negative net margin of 35.59% and a positive return on equity of 15.41%. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the business posted $0.56 EPS. FirstEnergy Corporation’s revenue was down 3.0% compared to the same quarter last year.
Several analysts have issued reports on the stock. Evercore ISI raised shares of FirstEnergy Corporation from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $30.00 to $35.00 in a research report on Monday, August 14th. Deutsche Bank AG reaffirmed a “hold” rating and set a $34.00 price target (up from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $33.00 price target (up from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. ValuEngine raised shares of FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Finally, Zacks Investment Research lowered shares of FirstEnergy Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $33.80.
Several institutional investors have recently added to or reduced their stakes in FE. BP PLC acquired a new position in FirstEnergy Corporation during the first quarter valued at approximately $1,591,000. Achmea Investment Management B.V. acquired a new position in FirstEnergy Corporation during the first quarter valued at approximately $2,387,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in FirstEnergy Corporation by 0.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,211,746 shares of the utilities provider’s stock valued at $38,558,000 after buying an additional 8,487 shares during the period. Alethea Capital Management LLC acquired a new position in FirstEnergy Corporation during the first quarter valued at approximately $2,046,000. Finally, Nisa Investment Advisors LLC increased its position in FirstEnergy Corporation by 28.4% in the first quarter. Nisa Investment Advisors LLC now owns 52,156 shares of the utilities provider’s stock valued at $1,660,000 after buying an additional 11,540 shares during the period. Institutional investors and hedge funds own 79.85% of the company’s stock.
FirstEnergy Corporation (FE) traded down 0.06% on Friday, reaching $32.56. 1,322,968 shares of the company were exchanged. The stock has a 50 day moving average of $31.91 and a 200 day moving average of $30.64. The firm’s market capitalization is $14.47 billion. FirstEnergy Corporation has a 12-month low of $27.93 and a 12-month high of $34.96.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be paid a $0.36 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.44 annualized dividend and a dividend yield of 4.42%. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.31%.
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About FirstEnergy Corporation
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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