Wall Street analysts expect FirstEnergy Corp. (NYSE:FE) to report $0.48 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for FirstEnergy’s earnings. The highest EPS estimate is $0.49 and the lowest is $0.48. FirstEnergy reported earnings of $0.50 per share in the same quarter last year, which indicates a negative year over year growth rate of 4%. The business is scheduled to report its next quarterly earnings report on Tuesday, February 18th.
On average, 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 financial year, analysts expect that the business will post earnings of $2.48 per share, with EPS estimates ranging from $2.46 to $2.50. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for FirstEnergy.
FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.03. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.91 billion. FirstEnergy had a return on equity of 19.21% and a net margin of 10.49%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $0.80 earnings per share.
A number of equities analysts recently commented on FE shares. KeyCorp lifted their price target on FirstEnergy from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Citigroup lifted their price target on FirstEnergy from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday. Bank of America downgraded FirstEnergy from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. They noted that the move was a valuation call. UBS Group reiterated a “buy” rating and issued a $53.00 price target (up from $52.00) on shares of FirstEnergy in a research note on Monday, November 25th. Finally, Mizuho upgraded FirstEnergy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $47.00 to $53.00 in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. FirstEnergy currently has a consensus rating of “Hold” and an average target price of $50.75.
NYSE:FE traded up $0.19 during mid-day trading on Friday, reaching $48.72. The stock had a trading volume of 71,947 shares, compared to its average volume of 2,632,522. The company has a market capitalization of $25.96 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 3.23 and a beta of 0.19. FirstEnergy has a 1-year low of $37.73 and a 1-year high of $49.07. The stock’s 50 day simple moving average is $48.09 and its two-hundred day simple moving average is $46.56. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.62 and a quick ratio of 0.56.
A number of hedge funds have recently modified their holdings of FE. Nuveen Asset Management LLC raised its holdings in FirstEnergy by 2,004.3% during the second quarter. Nuveen Asset Management LLC now owns 14,658,518 shares of the utilities provider’s stock worth $627,531,000 after purchasing an additional 13,961,923 shares in the last quarter. Boston Partners lifted its position in FirstEnergy by 9,910.1% during the third quarter. Boston Partners now owns 2,825,957 shares of the utilities provider’s stock valued at $136,297,000 after buying an additional 2,797,726 shares during the period. Massachusetts Financial Services Co. MA lifted its position in FirstEnergy by 7.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 30,083,866 shares of the utilities provider’s stock valued at $1,450,945,000 after buying an additional 2,120,802 shares during the period. Millennium Management LLC lifted its position in FirstEnergy by 235.3% during the third quarter. Millennium Management LLC now owns 2,117,379 shares of the utilities provider’s stock valued at $102,121,000 after buying an additional 1,485,911 shares during the period. Finally, State Street Corp lifted its position in FirstEnergy by 2.6% during the third quarter. State Street Corp now owns 37,834,841 shares of the utilities provider’s stock valued at $1,824,774,000 after buying an additional 970,653 shares during the period. Institutional investors own 88.86% of the company’s stock.
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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