FirstEnergy (FE) Issues FY 2018 Earnings Guidance

FirstEnergy (NYSE:FE) updated its FY 2018 earnings guidance on Thursday. The company provided EPS guidance of $2.50-2.60 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.49.

Several analysts recently commented on the stock. Zacks Investment Research lowered shares of FirstEnergy from a buy rating to a hold rating in a research report on Wednesday, July 18th. Citigroup raised their price target on shares of FirstEnergy from $34.00 to $37.00 and gave the company a neutral rating in a research report on Wednesday, October 3rd. ValuEngine upgraded shares of FirstEnergy from a hold rating to a buy rating in a research report on Tuesday, October 9th. Howard Weil assumed coverage on shares of FirstEnergy in a research report on Tuesday, July 24th. They set a sector outperform rating and a $39.00 price target on the stock. Finally, Bank of America raised their price target 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. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $39.70.

FE traded down $1.18 during midday trading on Friday, hitting $36.71. 7,817,475 shares of the company traded hands, compared to its average volume of 3,568,877. The company has a quick ratio of 0.41, a current ratio of 0.47 and a debt-to-equity ratio of 2.18. The company has a market cap of $18.42 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 2.51 and a beta of 0.29. FirstEnergy has a 52-week low of $29.33 and a 52-week high of $39.01.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Thursday, October 25th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.09. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.82 billion. FirstEnergy had a negative net margin of 11.86% and a positive return on equity of 24.99%. On average, research analysts forecast that FirstEnergy will post 2.52 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.92%. The ex-dividend date is Tuesday, November 6th. FirstEnergy’s payout ratio is 46.91%.

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.

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Earnings History and Estimates for FirstEnergy (NYSE:FE)

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