$3.13 Billion in Sales Expected for FirstEnergy Corp. (NYSE:FE) This Quarter

Equities analysts expect FirstEnergy Corp. (NYSE:FE) to announce sales of $3.13 billion for the current fiscal quarter, according to Zacks. Two analysts have made estimates for FirstEnergy’s earnings, with the lowest sales estimate coming in at $3.04 billion and the highest estimate coming in at $3.23 billion. FirstEnergy reported sales of $3.02 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.6%. The business is scheduled to announce its next earnings report on Monday, November 1st.

According to Zacks, analysts expect that FirstEnergy will report full-year sales of $11.02 billion for the current year, with estimates ranging from $10.80 billion to $11.18 billion. For the next year, analysts expect that the business will report sales of $11.30 billion, with estimates ranging from $11.09 billion to $11.52 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow FirstEnergy.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Thursday, July 22nd. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. FirstEnergy had a return on equity of 18.17% and a net margin of 9.98%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the company posted $0.57 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis.

FE has been the subject of a number of research reports. Mizuho lifted their price target on shares of FirstEnergy from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, July 26th. Morgan Stanley cut their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, September 17th. Finally, Wells Fargo & Company lifted their price objective on FirstEnergy from $38.00 to $40.00 and gave the stock an “underweight” rating in a research report on Monday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.60.

A number of institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position in FirstEnergy by 36.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,060 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 282 shares during the period. Concord Wealth Partners boosted its position in FirstEnergy by 14.3% during the 1st quarter. Concord Wealth Partners now owns 2,394 shares of the utilities provider’s stock worth $83,000 after purchasing an additional 299 shares during the period. Meeder Asset Management Inc. boosted its position in FirstEnergy by 20.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,899 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 317 shares during the period. World Asset Management Inc boosted its position in FirstEnergy by 1.6% during the 2nd quarter. World Asset Management Inc now owns 20,060 shares of the utilities provider’s stock worth $746,000 after purchasing an additional 323 shares during the period. Finally, Simmons Bank boosted its position in FirstEnergy by 3.4% during the 2nd quarter. Simmons Bank now owns 10,002 shares of the utilities provider’s stock worth $372,000 after purchasing an additional 326 shares during the period. 82.24% of the stock is owned by hedge funds and other institutional investors.

FE traded up $0.08 during trading on Friday, reaching $36.83. The company’s stock had a trading volume of 1,759,225 shares, compared to its average volume of 3,692,727. FirstEnergy has a 52-week low of $26.17 and a 52-week high of $39.94. The company’s fifty day moving average price is $38.22 and its 200-day moving average price is $37.26. The company has a market capitalization of $20.04 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 3.54 and a beta of 0.24. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.75 and a current ratio of 0.83.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Friday, November 5th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 4th. This represents a $1.56 annualized dividend and a dividend yield of 4.24%. FirstEnergy’s dividend payout ratio is presently 65.27%.

FirstEnergy Company Profile

FirstEnergy Corp. engages in the generation, transmission and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates through the following business segments: Regulated Distribution, Regulated Transmission and Corporate. The Regulated Distribution segment distributes electricity through FirstEnergy’s utility operating companies, serving various customers.

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Earnings History and Estimates for FirstEnergy (NYSE:FE)

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