FirstEnergy (FE) Set to Announce Quarterly Earnings on Tuesday

FirstEnergy (NYSE:FE) will post its quarterly earnings results after the market closes on Tuesday, July 30th. Analysts expect FirstEnergy to post earnings of $0.58 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.36 billion. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. On average, analysts expect FirstEnergy to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

FirstEnergy Trading Up 1.2 %

NYSE:FE opened at $40.94 on Monday. The firm has a market cap of $23.56 billion, a P/E ratio of 23.53, a PEG ratio of 2.59 and a beta of 0.49. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.59. The stock’s 50 day simple moving average is $39.08 and its 200-day simple moving average is $38.28. FirstEnergy has a 12-month low of $32.18 and a 12-month high of $41.05.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Wednesday, August 7th. FirstEnergy’s payout ratio is currently 97.70%.

Analysts Set New Price Targets

FE has been the topic of a number of recent research reports. Scotiabank dropped their target price on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Bank of America boosted their target price on FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group initiated coverage on FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 target price on the stock. StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, Morgan Stanley dropped their price objective on FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, FirstEnergy presently has an average rating of “Hold” and a consensus target price of $40.55.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.