FirstEnergy (NYSE:FE) Releases Q3 Earnings Guidance

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FirstEnergy (NYSE:FE) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.68-0.80 for the period, compared to the Thomson Reuters consensus estimate of $0.77. FirstEnergy also updated its FY 2019 guidance to $2.45-2.75 EPS.

A number of research firms recently commented on FE. KeyCorp reaffirmed an overweight rating and set a $46.00 price target on shares of FirstEnergy in a research report on Wednesday, June 5th. Morgan Stanley reaffirmed an underweight rating and set a C$18.00 price target on shares of WestJet Airlines in a research report on Friday, April 5th. TheStreet lowered shares of Hostess Brands from a b rating to a f rating in a research report on Thursday, July 18th. Bank of America set a $57.00 price target on shares of Lennar and gave the stock a buy rating in a research report on Thursday, March 28th. Finally, Zacks Investment Research lowered shares of EXACT Sciences from a hold rating to a sell rating in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of Buy and an average target price of $43.13.

Shares of FE traded down $0.28 during mid-day trading on Tuesday, reaching $43.32. The company had a trading volume of 2,509,701 shares, compared to its average volume of 4,163,537. The business’s 50 day moving average price is $43.38. FirstEnergy has a 1-year low of $34.30 and a 1-year high of $44.20. The company has a quick ratio of 0.47, a current ratio of 0.54 and a debt-to-equity ratio of 2.72. The company has a market cap of $23.17 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 2.87 and a beta of 0.30.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. FirstEnergy had a net margin of 2.63% and a return on equity of 21.90%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the company earned $0.62 EPS. The firm’s revenue was down 3.8% compared to the same quarter last year. On average, analysts anticipate that FirstEnergy will post 2.53 earnings per share for the current year.

The firm also recently announced 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 yield of 3.51%. FirstEnergy’s dividend payout ratio is presently 58.69%.

In other news, Director Christopher D. Pappas purchased 3,000 shares of the stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $41.14 per share, for a total transaction of $123,420.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by company insiders.

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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