FirstEnergy (FE) Announces Quarterly Earnings Results, Beats Expectations By $0.09 EPS

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FirstEnergy (NYSE:FE) announced its earnings results on Thursday, October 25th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09, Fidelity Earnings reports. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.82 billion. FirstEnergy had a negative net margin of 11.86% and a positive return on equity of 24.42%. FirstEnergy updated its FY 2018 guidance to $2.50-2.60 EPS.

Shares of FE opened at $38.77 on Friday. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.41 and a current ratio of 0.45. FirstEnergy has a twelve month low of $29.33 and a twelve month high of $39.38. The company has a market capitalization of $19.83 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 2.54 and a beta of 0.24.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 7th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, February 6th. This represents a $1.52 dividend on an annualized basis and a yield of 3.92%. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.36. FirstEnergy’s payout ratio is presently 46.91%.

Several equities research analysts have weighed in on FE shares. Bank of America raised their price objective on shares of FirstEnergy from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Morgan Stanley lifted their price target on shares of FirstEnergy from $39.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. Wells Fargo & Co reiterated a “buy” rating and set a $42.00 price target (up previously from $41.00) on shares of FirstEnergy in a research report on Monday, September 17th. Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Wednesday, October 10th. Finally, ValuEngine upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $39.90.

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About FirstEnergy

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

Further Reading: Return on Equity (ROE)

Earnings History for FirstEnergy (NYSE:FE)

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