FirstEnergy Corp. (NYSE:FE) Expected to Announce Earnings of $0.48 Per Share

Analysts predict that FirstEnergy Corp. (NYSE:FE) will post $0.48 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for FirstEnergy’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.49. FirstEnergy reported earnings per share of $0.50 in the same quarter last year, which suggests a negative year-over-year growth rate of 4%. The business is expected to report its next quarterly earnings results on Tuesday, February 18th.

According to Zacks, analysts expect that FirstEnergy will report full-year earnings of $2.52 per share for the current financial year, with EPS estimates ranging from $2.52 to $2.53. For the next fiscal year, analysts anticipate that the company will post earnings of $2.48 per share, with EPS estimates ranging from $2.46 to $2.50. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow FirstEnergy.

FirstEnergy (NYSE:FE) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.03. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.91 billion. FirstEnergy had a net margin of 10.49% and a return on equity of 19.21%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share.

A number of analysts recently weighed in on FE shares. KeyCorp upped their target price on shares of FirstEnergy from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Bank of America lowered shares of FirstEnergy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. They noted that the move was a valuation call. Citigroup boosted their price target on shares of FirstEnergy from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday. Mizuho upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $47.00 to $53.00 in a research report on Monday, November 25th. Finally, Morgan Stanley boosted their price target on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. FirstEnergy currently has an average rating of “Hold” and an average target price of $50.75.

Hedge funds have recently made changes to their positions in the company. Cerebellum GP LLC bought a new stake in shares of FirstEnergy during the fourth quarter worth approximately $576,000. Gradient Investments LLC lifted its position in shares of FirstEnergy by 279.4% during the 4th quarter. Gradient Investments LLC now owns 5,695 shares of the utilities provider’s stock worth $277,000 after buying an additional 4,194 shares during the last quarter. Cypress Wealth Services LLC lifted its position in shares of FirstEnergy by 11.0% during the 4th quarter. Cypress Wealth Services LLC now owns 6,213 shares of the utilities provider’s stock worth $302,000 after buying an additional 618 shares during the last quarter. Gateway Advisory LLC bought a new stake in shares of FirstEnergy during the 4th quarter worth $335,000. Finally, Metropolitan Life Insurance Co NY lifted its position in shares of FirstEnergy by 7.7% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 81,605 shares of the utilities provider’s stock worth $3,936,000 after buying an additional 5,817 shares during the last quarter. Institutional investors own 88.86% of the company’s stock.

NYSE FE traded up $0.19 on Friday, reaching $48.72. The company’s stock had a trading volume of 71,947 shares, compared to its average volume of 2,632,522. The firm has a market cap of $25.96 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 3.23 and a beta of 0.19. The business has a 50-day moving average price of $48.09 and a 200 day moving average price of $46.56. FirstEnergy has a 52 week low of $37.73 and a 52 week high of $49.07. The company has a current ratio of 0.62, a quick ratio of 0.56 and a debt-to-equity ratio of 2.67.

About FirstEnergy

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.

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