FY2016 EPS Estimates for FirstEnergy Corp. Cut by Analyst (FE)
FirstEnergy Corp. (NYSE:FE) – Equities research analysts at Jefferies Group cut their FY2016 EPS estimates for shares of FirstEnergy Corp. in a note issued to investors on Monday. Jefferies Group analyst A. Crowdell now forecasts that the brokerage will earn $2.70 per share for the year, down from their previous estimate of $2.75. Jefferies Group has a “Hold” rating and a $34.50 price objective on the stock. Jefferies Group also issued estimates for FirstEnergy Corp.’s FY2017 earnings at $2.80 EPS and FY2018 earnings at $2.50 EPS.
FirstEnergy Corp. (NYSE:FE) last announced its quarterly earnings results on Friday, November 4th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.14. FirstEnergy Corp. had a positive return on equity of 10.06% and a negative net margin of 4.12%. During the same quarter in the previous year, the business posted $0.98 EPS.
FE has been the topic of several other reports. Evercore ISI raised shares of FirstEnergy Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, October 18th. Deutsche Bank AG raised shares of FirstEnergy Corp. from a “hold” rating to a “buy” rating and lowered their target price for the stock from $38.00 to $37.00 in a research report on Tuesday, October 25th. Tudor Pickering downgraded shares of FirstEnergy Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, October 19th. Citigroup Inc. raised their price target on FirstEnergy Corp. from $28.00 to $31.00 and gave the company a “sell” rating in a research report on Wednesday, July 20th. Finally, Barclays PLC raised FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and set a $37.00 price target on the stock in a research report on Thursday, October 13th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $36.07.
Shares of FirstEnergy Corp. (NYSE:FE) opened at 31.85 on Wednesday. The stock’s 50 day moving average price is $33.01 and its 200-day moving average price is $33.54. FirstEnergy Corp. has a 12 month low of $29.62 and a 12 month high of $36.60. The firm’s market capitalization is $13.54 billion.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio is -100.70%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of FirstEnergy Corp. by 11.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 48,905 shares of the company’s stock worth $1,760,000 after buying an additional 4,827 shares in the last quarter. Seven Eight Capital LLC boosted its position in shares of FirstEnergy Corp. by 1,699.4% in the first quarter. Seven Eight Capital LLC now owns 61,307 shares of the company’s stock worth $2,205,000 after buying an additional 57,900 shares in the last quarter. Arizona State Retirement System boosted its position in shares of FirstEnergy Corp. by 2.6% in the first quarter. Arizona State Retirement System now owns 114,901 shares of the company’s stock worth $4,133,000 after buying an additional 2,900 shares in the last quarter. Babson Capital Management LLC boosted its position in shares of FirstEnergy Corp. by 7.5% in the first quarter. Babson Capital Management LLC now owns 70,173 shares of the company’s stock worth $2,524,000 after buying an additional 4,900 shares in the last quarter. Finally, Natixis acquired a new position in shares of FirstEnergy Corp. during the first quarter worth approximately $1,978,000. Hedge funds and other institutional investors own 75.86% of the company’s stock.
FirstEnergy Corp. Company Profile
FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution, Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its approximately 10 utility operating companies. The Regulated Transmission segment transmits electricity through transmission facilities.
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