FirstEnergy (NYSE:FE) Updates FY 2022 Earnings Guidance

FirstEnergy (NYSE:FE) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $2.300-$2.500 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.540. The company issued revenue guidance of -.

A number of research firms have commented on FE. KeyCorp upped their price target on FirstEnergy from $42.00 to $43.00 and gave the stock an overweight rating in a research note on Tuesday, October 19th. Barclays cut their price objective on FirstEnergy from $41.00 to $40.00 and set an equal weight rating on the stock in a research report on Wednesday, November 3rd. Morgan Stanley cut their price objective on FirstEnergy from $48.00 to $47.00 and set an overweight rating on the stock in a research report on Friday, September 17th. Finally, Wells Fargo & Company raised FirstEnergy from an underweight rating to an equal weight rating and set a $42.00 price objective on the stock in a research report on Tuesday, November 2nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy presently has an average rating of Buy and an average target price of $41.17.

Shares of FirstEnergy stock traded down $0.03 during trading hours on Thursday, reaching $38.91. 1,406,403 shares of the company were exchanged, compared to its average volume of 3,599,247. FirstEnergy has a 1 year low of $26.17 and a 1 year high of $39.94. The stock’s fifty day moving average is $37.52 and its 200 day moving average is $37.88. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.56 and a current ratio of 0.62. The firm has a market cap of $21.18 billion, a PE ratio of 19.17, a PEG ratio of 2.03 and a beta of 0.32.

FirstEnergy (NYSE:FE) last posted its earnings results on Thursday, October 28th. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.79 by $0.03. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.11 billion. FirstEnergy had a return on equity of 17.84% and a net margin of 9.97%. FirstEnergy’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. Research analysts expect that FirstEnergy will post 2.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Friday, November 5th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 4.01%. The ex-dividend date is Thursday, November 4th. FirstEnergy’s dividend payout ratio (DPR) is presently 76.85%.

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.

See Also: Return on Equity (ROE)

Earnings History and Estimates for FirstEnergy (NYSE:FE)

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