Zacks: Analysts Expect FirstEnergy Corporation (FE) Will Announce Earnings of $0.86 Per Share

Wall Street brokerages expect FirstEnergy Corporation (NYSE:FE) to announce earnings of $0.86 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for FirstEnergy Corporation’s earnings, with estimates ranging from $0.84 to $0.88. FirstEnergy Corporation reported earnings per share of $0.90 during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.4%. The business is scheduled to issue its next earnings report after the market closes on Thursday, October 26th.

On average, analysts expect that FirstEnergy Corporation will report full year earnings of $2.83 per share for the current year, with EPS estimates ranging from $2.80 to $2.85. For the next year, analysts anticipate that the company will report earnings of $2.51 per share, with EPS estimates ranging from $2.43 to $2.59. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for FirstEnergy Corporation.

FirstEnergy Corporation (NYSE:FE) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. FirstEnergy Corporation had a negative net margin of 35.59% and a positive return on equity of 15.41%. The business had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year.

Several research analysts have recently commented on the stock. ValuEngine raised shares of FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research lowered shares of FirstEnergy Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Morgan Stanley raised their price objective on shares of FirstEnergy Corporation from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, September 8th. Finally, Evercore ISI raised shares of FirstEnergy Corporation from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $30.00 to $35.00 in a research note on Monday, August 14th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $34.02.

Institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. raised its holdings in FirstEnergy Corporation by 3.7% during the first quarter. UBS Asset Management Americas Inc. now owns 1,626,867 shares of the utilities provider’s stock worth $51,767,000 after purchasing an additional 57,820 shares in the last quarter. Oxford Asset Management acquired a new stake in FirstEnergy Corporation during the first quarter worth approximately $664,000. Envestnet Asset Management Inc. raised its holdings in FirstEnergy Corporation by 12.2% during the first quarter. Envestnet Asset Management Inc. now owns 12,367 shares of the utilities provider’s stock worth $392,000 after purchasing an additional 1,345 shares in the last quarter. Pacer Advisors Inc. raised its holdings in FirstEnergy Corporation by 3.3% during the first quarter. Pacer Advisors Inc. now owns 8,398 shares of the utilities provider’s stock worth $267,000 after purchasing an additional 269 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in FirstEnergy Corporation by 0.7% during the first quarter. Victory Capital Management Inc. now owns 74,182 shares of the utilities provider’s stock worth $2,360,000 after purchasing an additional 519 shares in the last quarter. Institutional investors own 79.97% of the company’s stock.

FirstEnergy Corporation (NYSE FE) traded up 0.16% during midday trading on Friday, hitting $31.38. 4,478,928 shares of the stock traded hands. The company’s 50-day moving average is $31.80 and its 200 day moving average is $30.67. The firm’s market cap is $13.94 billion. FirstEnergy Corporation has a 12-month low of $27.93 and a 12-month high of $34.83.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.59%. FirstEnergy Corporation’s dividend payout ratio is currently -12.31%.

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About FirstEnergy Corporation

FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.

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