FirstEnergy Corporation (FE) Expected to Announce Earnings of $0.86 Per Share
Brokerages expect FirstEnergy Corporation (NYSE:FE) to post $0.86 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for FirstEnergy Corporation’s earnings. The lowest EPS estimate is $0.84 and the highest is $0.88. FirstEnergy Corporation reported earnings of $0.90 per share in the same quarter last year, which would suggest a negative year over year growth rate of 4.4%. The business 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 fiscal year, with EPS estimates ranging from $2.80 to $2.86. For the next fiscal year, analysts expect that the company will report earnings of $2.52 per share, with EPS estimates ranging from $2.50 to $2.59. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for FirstEnergy Corporation.
FirstEnergy Corporation (NYSE:FE) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The firm had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the business earned $0.56 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis.
A number of research firms have recently weighed in on FE. Zacks Investment Research cut FirstEnergy Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Evercore ISI raised FirstEnergy Corporation from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $30.00 to $35.00 in a research report on Monday, August 14th. Deutsche Bank AG reissued a “hold” rating and issued a $34.00 price objective (up previously from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. Morgan Stanley raised their price objective on FirstEnergy Corporation from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, September 8th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $33.00 price objective (up previously from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $34.02.
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FirstEnergy Corporation (FE) traded down 0.83% on Wednesday, hitting $30.89. The stock had a trading volume of 2,699,292 shares. The company has a 50-day moving average price of $32.26 and a 200 day moving average price of $30.69. The firm’s market cap is $13.72 billion. FirstEnergy Corporation has a 52-week low of $27.93 and a 52-week high of $34.96.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.66%. FirstEnergy Corporation’s payout ratio is currently -12.31%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FE. Comerica Bank raised its stake in shares of FirstEnergy Corporation by 4.1% during the 1st quarter. Comerica Bank now owns 109,386 shares of the utilities provider’s stock valued at $3,338,000 after buying an additional 4,332 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of FirstEnergy Corporation by 3.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,626,867 shares of the utilities provider’s stock valued at $51,767,000 after buying an additional 57,820 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of FirstEnergy Corporation during the 1st quarter valued at about $3,346,000. Mutual of America Capital Management LLC raised its stake in shares of FirstEnergy Corporation by 7.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 85,066 shares of the utilities provider’s stock valued at $2,707,000 after buying an additional 5,696 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of FirstEnergy Corporation by 2,070.6% during the 1st quarter. Assetmark Inc. now owns 8,574 shares of the utilities provider’s stock valued at $273,000 after buying an additional 8,179 shares during the last quarter. Institutional investors and hedge funds own 79.97% of the company’s stock.
FirstEnergy Corporation Company Profile
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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