$3.49 Billion in Sales Expected for FirstEnergy Corp. (FE) This Quarter
Brokerages predict that FirstEnergy Corp. (NYSE:FE) will report sales of $3.49 billion for the current quarter, Zacks reports. Two analysts have made estimates for FirstEnergy’s earnings. The highest sales estimate is $3.53 billion and the lowest is $3.44 billion. FirstEnergy reported sales of $3.38 billion during the same quarter last year, which would suggest a positive year over year growth rate of 3.3%. The company is scheduled to announce its next earnings results after the market closes on Tuesday, February 20th.
On average, analysts expect that FirstEnergy will report full-year sales of $3.49 billion for the current fiscal year, with estimates ranging from $13.81 billion to $14.10 billion. For the next financial year, analysts forecast that the firm will report sales of $12.78 billion per share, with estimates ranging from $11.56 billion to $13.71 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover FirstEnergy.
Several brokerages have weighed in on FE. Morgan Stanley set a $35.00 price target on shares of FirstEnergy and gave the company a “buy” rating in a report on Tuesday, February 13th. UBS Group began coverage on shares of FirstEnergy in a report on Friday, February 2nd. They set a “buy” rating and a $39.00 price target on the stock. Citigroup lowered their price target on shares of FirstEnergy from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, January 30th. Mizuho reaffirmed a “hold” rating and set a $32.00 price target on shares of FirstEnergy in a report on Tuesday, January 30th. Finally, Wolfe Research raised shares of FirstEnergy from a “peer perform” rating to an “outperform” rating in a report on Monday, January 29th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. FirstEnergy has a consensus rating of “Buy” and a consensus price target of $35.33.
FirstEnergy (NYSE:FE) traded up $0.24 on Tuesday, hitting $33.03. 4,791,471 shares of the company were exchanged, compared to its average volume of 9,720,000. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69. The stock has a market capitalization of $14,690.00, a P/E ratio of -2.81, a price-to-earnings-growth ratio of 12.88 and a beta of 0.35. FirstEnergy has a one year low of $27.93 and a one year high of $35.22.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Tuesday, February 6th. FirstEnergy’s dividend payout ratio (DPR) is presently -12.23%.
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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