FirstEnergy Corp. (NYSE:FE) Expected to Announce Quarterly Sales of $2.78 Billion

Brokerages predict that FirstEnergy Corp. (NYSE:FE) will announce sales of $2.78 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for FirstEnergy’s earnings, with the lowest sales estimate coming in at $2.76 billion and the highest estimate coming in at $2.81 billion. FirstEnergy reported sales of $2.71 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The company is expected to announce its next quarterly earnings report on Tuesday, February 18th.

On average, analysts expect that FirstEnergy will report full-year sales of $11.07 billion for the current fiscal year, with estimates ranging from $10.88 billion to $11.20 billion. For the next fiscal year, analysts anticipate that the business will report sales of $11.40 billion, with estimates ranging from $11.14 billion to $11.67 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow FirstEnergy.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.03. FirstEnergy had a net margin of 10.49% and a return on equity of 19.21%. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the prior year, the company posted $0.80 earnings per share. FirstEnergy’s revenue for the quarter was up 3.4% compared to the same quarter last year.

Several equities research analysts have recently weighed in on FE shares. UBS Group reiterated a “buy” rating and set a $53.00 price objective (up from $52.00) on shares of FirstEnergy in a research report on Monday, November 25th. Citigroup set a $49.00 price objective on shares of FirstEnergy and gave the stock a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley cut shares of FirstEnergy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $50.00 to $49.00 in a research report on Tuesday, November 5th. Mizuho upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $47.00 to $53.00 in a research report on Monday, November 25th. Finally, Bank of America cut shares of FirstEnergy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $49.63.

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of FirstEnergy by 1.2% during the second quarter. Vanguard Group Inc. now owns 65,113,979 shares of the utilities provider’s stock valued at $2,787,529,000 after purchasing an additional 783,467 shares in the last quarter. State Street Corp lifted its position in shares of FirstEnergy by 2.6% during the third quarter. State Street Corp now owns 37,834,841 shares of the utilities provider’s stock valued at $1,824,774,000 after purchasing an additional 970,653 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of FirstEnergy by 7.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 30,083,866 shares of the utilities provider’s stock valued at $1,450,945,000 after purchasing an additional 2,120,802 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of FirstEnergy by 2,004.3% during the second quarter. Nuveen Asset Management LLC now owns 14,658,518 shares of the utilities provider’s stock valued at $627,531,000 after purchasing an additional 13,961,923 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of FirstEnergy by 4.6% during the second quarter. Invesco Ltd. now owns 10,868,330 shares of the utilities provider’s stock valued at $465,274,000 after purchasing an additional 479,046 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

Shares of FE traded up $0.45 during trading hours on Friday, hitting $48.19. 3,096,275 shares of the stock were exchanged, compared to its average volume of 4,274,080. FirstEnergy has a fifty-two week low of $35.33 and a fifty-two week high of $49.07. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.62 and a quick ratio of 0.56. The business has a 50-day moving average of $47.53 and a 200-day moving average of $45.41. The firm has a market capitalization of $25.77 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 3.17 and a beta of 0.18.

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Wednesday, November 6th. FirstEnergy’s payout ratio is 58.69%.

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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