FirstEnergy (FE) Issues FY19 Earnings Guidance

FirstEnergy (NYSE:FE) updated its FY19 earnings guidance on Tuesday. The company provided EPS guidance of $2.45-2.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.57. FirstEnergy also updated its FY 2019 guidance to $2.45-2.75 EPS.

A number of equities analysts have recently commented on the company. Zacks Investment Research cut FirstEnergy from a buy rating to a hold rating in a report on Wednesday, April 17th. Morgan Stanley set a $44.00 target price on FirstEnergy and gave the stock a buy rating in a report on Friday, April 5th. Bank of America lifted their target price on FirstEnergy from $41.00 to $46.00 and gave the stock a buy rating in a report on Thursday, March 28th. Finally, Barclays upgraded FirstEnergy from an equal weight rating to an overweight rating and lifted their target price for the stock from $40.00 to $46.00 in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $42.86.

Shares of FE stock traded up $0.15 on Tuesday, reaching $40.74. 3,602,003 shares of the company’s stock were exchanged, compared to its average volume of 4,944,473. FirstEnergy has a 52 week low of $32.92 and a 52 week high of $42.13. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.46 and a current ratio of 0.52. The firm has a market capitalization of $21.60 billion, a P/E ratio of 15.73 and a beta of 0.30.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.01). FirstEnergy had a return on equity of 21.13% and a net margin of 10.41%. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the business posted $0.67 earnings per share. FirstEnergy’s revenue was up .0% on a year-over-year basis. As a group, sell-side analysts forecast that FirstEnergy will post 2.57 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Monday, May 6th. FirstEnergy’s dividend payout ratio is currently 58.69%.

In related news, EVP Leila L. Vespoli sold 24,400 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $41.33, for a total transaction of $1,008,452.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is currently owned by company insiders.

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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 and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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