$2.82 Billion in Sales Expected for FirstEnergy Corp. (NYSE:FE) This Quarter

Brokerages expect FirstEnergy Corp. (NYSE:FE) to post $2.82 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for FirstEnergy’s earnings, with the lowest sales estimate coming in at $2.80 billion and the highest estimate coming in at $2.84 billion. FirstEnergy reported sales of $2.67 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.6%. The business is scheduled to announce its next quarterly earnings report on Friday, February 5th.

According to Zacks, analysts expect that FirstEnergy will report full year sales of $11.05 billion for the current year, with estimates ranging from $10.99 billion to $11.09 billion. For the next year, analysts anticipate that the business will post sales of $11.74 billion, with estimates ranging from $11.52 billion to $12.06 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for FirstEnergy.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Saturday, November 7th. The utilities provider reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.05. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.95 billion. FirstEnergy had a return on equity of 20.15% and a net margin of 6.64%. FirstEnergy’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.80 EPS.

Several equities research analysts have commented on the company. Barclays boosted their target price on FirstEnergy from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 18th. Morgan Stanley cut their target price on FirstEnergy from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 15th. Bank of America cut FirstEnergy from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research note on Friday, November 20th. BidaskClub lowered FirstEnergy from a “buy” rating to a “hold” rating in a research report on Monday, December 28th. Finally, Wells Fargo & Company lowered FirstEnergy from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $31.00 to $32.00 in a research report on Wednesday, January 6th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $41.41.

Several hedge funds have recently bought and sold shares of the stock. IFM Investors Pty Ltd increased its holdings in shares of FirstEnergy by 21.5% during the 4th quarter. IFM Investors Pty Ltd now owns 49,050 shares of the utilities provider’s stock worth $1,501,000 after acquiring an additional 8,691 shares during the last quarter. Norway Savings Bank acquired a new position in FirstEnergy in the 4th quarter valued at $93,000. Sowell Financial Services LLC grew its holdings in FirstEnergy by 34.3% in the 4th quarter. Sowell Financial Services LLC now owns 33,598 shares of the utilities provider’s stock valued at $1,028,000 after buying an additional 8,573 shares in the last quarter. MADDEN SECURITIES Corp grew its holdings in FirstEnergy by 105.2% in the 4th quarter. MADDEN SECURITIES Corp now owns 118,426 shares of the utilities provider’s stock valued at $3,625,000 after buying an additional 60,721 shares in the last quarter. Finally, Huntington National Bank grew its holdings in FirstEnergy by 165.1% in the 4th quarter. Huntington National Bank now owns 18,263 shares of the utilities provider’s stock valued at $559,000 after buying an additional 11,374 shares in the last quarter. 71.09% of the stock is currently owned by institutional investors and hedge funds.

NYSE FE opened at $30.79 on Thursday. The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of 22.81 and a beta of 0.16. The stock’s 50 day moving average price is $29.49 and its two-hundred day moving average price is $30.79. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.60 and a current ratio of 0.70. FirstEnergy has a 52 week low of $22.85 and a 52 week high of $52.51.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 1st. Investors of record on Friday, February 5th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend is Thursday, February 4th. FirstEnergy’s payout ratio is presently 60.47%.

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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Earnings History and Estimates for FirstEnergy (NYSE:FE)

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