FirstEnergy (NYSE:FE) Issues Q2 2021 Earnings Guidance

FirstEnergy (NYSE:FE) updated its second quarter 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.480-0.580 for the period, compared to the Thomson Reuters consensus estimate of $0.560. The company issued revenue guidance of -.FirstEnergy also updated its FY 2021 guidance to 2.400-2.600 EPS.

A number of analysts have recently issued reports on the company. KeyCorp upgraded FirstEnergy from a sector weight rating to an overweight rating and set a $42.00 price target for the company in a research report on Tuesday, April 27th. Bank of America upgraded FirstEnergy from a neutral rating to a buy rating in a research report on Monday, March 15th. Mizuho lifted their price target on FirstEnergy from $32.00 to $33.00 in a research report on Friday, February 19th. TheStreet upgraded FirstEnergy from a c+ rating to a b- rating in a research report on Thursday, February 4th. Finally, Wells Fargo & Company cut FirstEnergy from an equal weight rating to an underweight rating and raised their price objective for the company from $31.00 to $32.00 in a report on Wednesday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $39.42.

FE traded down $0.50 during midday trading on Tuesday, reaching $37.82. The company had a trading volume of 121,802 shares, compared to its average volume of 4,486,808. The company has a quick ratio of 0.60, a current ratio of 0.70 and a debt-to-equity ratio of 3.09. The business has a 50-day moving average of $35.42 and a two-hundred day moving average of $31.99. The company has a market cap of $20.57 billion, a P/E ratio of 28.35 and a beta of 0.20. FirstEnergy has a 1 year low of $22.85 and a 1 year high of $44.10.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Wednesday, April 21st. The utilities provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.78 billion. FirstEnergy had a return on equity of 20.15% and a net margin of 6.64%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 earnings per share. On average, equities research analysts predict that FirstEnergy will post 2.54 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Friday, May 7th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, May 6th. This represents a $1.56 annualized dividend and a yield of 4.12%. FirstEnergy’s dividend payout ratio (DPR) is presently 60.47%.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It operates 24,035 circuit miles of overhead and underground transmission lines; and electric distribution systems, including 272,531 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits, as well as owns substations with a total installed transformer capacity of approximately 155,920,348 kilovolt-amperes.

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Earnings History and Estimates for FirstEnergy (NYSE:FE)

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