FirstEnergy (NYSE:FE) Updates FY 2021 Earnings Guidance

FirstEnergy (NYSE:FE) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.550-$2.650 for the period, compared to the Thomson Reuters consensus estimate of $2.600. The company issued revenue guidance of -.

Shares of FE traded down $0.03 during midday trading on Thursday, hitting $38.91. The company had a trading volume of 1,406,403 shares, compared to its average volume of 3,599,247. FirstEnergy has a 1 year low of $26.17 and a 1 year high of $39.94. The firm has a market capitalization of $21.18 billion, a P/E ratio of 19.17, a P/E/G ratio of 2.03 and a beta of 0.32. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.56 and a current ratio of 0.62. The company’s 50-day simple moving average is $37.55 and its 200-day simple moving average is $37.89.

FirstEnergy (NYSE:FE) last posted its earnings results on Thursday, October 28th. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.79 by $0.03. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.11 billion. FirstEnergy had a return on equity of 17.84% and a net margin of 9.97%. FirstEnergy’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. Equities analysts predict that FirstEnergy will post 2.6 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Shareholders of record on Friday, November 5th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.01%. The ex-dividend date is Thursday, November 4th. FirstEnergy’s dividend payout ratio is presently 76.85%.

Several research analysts have weighed in on the company. KeyCorp lifted their target price on FirstEnergy from $42.00 to $43.00 and gave the company an overweight rating in a research note on Tuesday, October 19th. Wells Fargo & Company upgraded shares of FirstEnergy from an underweight rating to an equal weight rating and set a $42.00 price objective on the stock in a research report on Tuesday, November 2nd. Morgan Stanley dropped their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an overweight rating on the stock in a research note on Friday, September 17th. Finally, Barclays reduced their target price on shares of FirstEnergy from $41.00 to $40.00 and set an equal weight rating for the company in a research note on Wednesday, November 3rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $41.17.

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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