FirstEnergy (NYSE:FE – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 2.610-2.810 for the period, compared to the consensus estimate of 2.690. The company issued revenue guidance of -. FirstEnergy also updated its FY24 guidance to $2.61-2.81 EPS.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on FE shares. Scotiabank lowered their target price on FirstEnergy from $41.00 to $40.00 and set a sector perform rating on the stock in a report on Monday, April 22nd. Wells Fargo & Company increased their price target on FirstEnergy from $42.00 to $45.00 and gave the stock an equal weight rating in a research note on Thursday. Morgan Stanley reduced their price target on FirstEnergy from $46.00 to $44.00 and set an overweight rating on the stock in a research note on Monday, June 24th. Mizuho increased their price target on FirstEnergy from $38.00 to $41.00 and gave the stock a neutral rating in a research note on Monday, June 3rd. Finally, Bank of America increased their price target on FirstEnergy from $30.00 to $35.00 and gave the stock an underperform rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $40.92.
Read Our Latest Analysis on FirstEnergy
FirstEnergy Stock Down 0.6 %
FirstEnergy (NYSE:FE – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. FirstEnergy had a return on equity of 12.61% and a net margin of 6.61%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the firm earned $0.47 EPS. Sell-side analysts anticipate that FirstEnergy will post 2.7 earnings per share for the current fiscal year.
FirstEnergy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a $0.425 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.00%. FirstEnergy’s dividend payout ratio (DPR) is 97.70%.
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.
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