FirstEnergy (FE) Set to Announce Quarterly Earnings on Tuesday

FirstEnergy (NYSE:FE) is scheduled to post its quarterly earnings results after the market closes on Tuesday, October 29th. Analysts expect FirstEnergy to post earnings of $0.90 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. On average, analysts expect FirstEnergy to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $43.41 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43. FirstEnergy has a 1-year low of $34.91 and a 1-year high of $44.97. The company has a market capitalization of $25.00 billion, a P/E ratio of 30.79, a P/E/G ratio of 2.31 and a beta of 0.50. The firm’s 50 day simple moving average is $43.69 and its two-hundred day simple moving average is $40.92.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 120.57%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FE. Scotiabank boosted their target price on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Jefferies Financial Group began coverage on shares of FirstEnergy in a report on Monday, October 14th. They issued a “hold” rating and a $46.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their target price on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Barclays boosted their target price on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.00.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.