FirstEnergy (NYSE:FE) Updates FY 2024 Earnings Guidance

FirstEnergy (NYSE:FE) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.610-2.710 for the period, compared to the consensus earnings per share estimate of 2.700. The company issued revenue guidance of -. FirstEnergy also updated its FY24 guidance to $2.61-2.71 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FE. Morgan Stanley upped their price objective on shares of FirstEnergy from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Barclays increased their price objective on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. KeyCorp increased their price objective on shares of FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.00.

FirstEnergy Stock Down 0.5 %

Shares of FE traded down $0.20 during trading hours on Friday, reaching $41.63. 2,095,956 shares of the stock traded hands, compared to its average volume of 2,936,891. The company has a current ratio of 0.56, a quick ratio of 0.43 and a debt-to-equity ratio of 1.58. The stock has a fifty day simple moving average of $43.65 and a 200 day simple moving average of $41.05. FirstEnergy has a 52 week low of $34.92 and a 52 week high of $44.97. The company has a market cap of $23.99 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.26 and a beta of 0.50.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter last year, the business posted $0.88 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that FirstEnergy will post 2.7 EPS for the current year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be issued a dividend of $0.425 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.08%. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

FirstEnergy Company Profile

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.