Brokerages expect FirstEnergy Corp. (NYSE:FE) to announce $2.83 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for FirstEnergy’s earnings, with estimates ranging from $2.69 billion to $2.97 billion. FirstEnergy posted sales of $3.06 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.5%. The company is expected to issue its next earnings report on Thursday, October 24th.
On average, analysts expect that FirstEnergy will report full-year sales of $11.11 billion for the current fiscal year, with estimates ranging from $10.67 billion to $11.39 billion. For the next fiscal year, analysts expect that the company will report sales of $11.30 billion, with estimates ranging from $10.64 billion to $11.63 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow FirstEnergy.
FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.66 billion. FirstEnergy had a return on equity of 20.29% and a net margin of 2.79%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 EPS.
Shares of FE stock traded down $0.49 during trading hours on Wednesday, reaching $43.69. 1,841,050 shares of the company’s stock were exchanged, compared to its average volume of 4,313,837. The business’s 50 day moving average price is $43.68. The stock has a market cap of $23.41 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 2.95 and a beta of 0.27. The company has a current ratio of 0.60, a quick ratio of 0.53 and a debt-to-equity ratio of 2.63. FirstEnergy has a fifty-two week low of $35.33 and a fifty-two week high of $44.75.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a dividend of $0.38 per share. The ex-dividend date is Tuesday, August 6th. This represents a $1.52 annualized dividend and a dividend yield of 3.48%. FirstEnergy’s dividend payout ratio (DPR) is presently 58.69%.
In other FirstEnergy news, Director Christopher D. Pappas acquired 3,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was bought at an average price of $41.14 per share, for a total transaction of $123,420.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. First Republic Investment Management Inc. boosted its position in shares of FirstEnergy by 39.5% during the 1st quarter. First Republic Investment Management Inc. now owns 15,837 shares of the utilities provider’s stock worth $659,000 after purchasing an additional 4,485 shares during the period. Clean Yield Group boosted its position in shares of FirstEnergy by 1,184.0% during the 2nd quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 592 shares during the period. Andra AP fonden purchased a new position in shares of FirstEnergy during the 1st quarter worth approximately $7,273,000. Metropolitan Life Insurance Co NY boosted its position in shares of FirstEnergy by 0.3% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 70,842 shares of the utilities provider’s stock worth $2,947,000 after purchasing an additional 244 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in shares of FirstEnergy during the 2nd quarter worth approximately $222,000. 93.57% of the stock is owned by institutional investors and hedge funds.
FirstEnergy Company Profile
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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