FirstEnergy (NYSE:FE) Releases FY 2024 Earnings Guidance

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

Analysts Set New Price Targets

FE has been the subject of several recent analyst reports. Jefferies Financial Group assumed coverage on FirstEnergy in a research report on Monday, October 14th. They set a “hold” rating and a $46.00 target price for the company. KeyCorp upped their price objective on shares of FirstEnergy from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Bank of America lifted their target price on shares of FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Argus upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.00.

FirstEnergy Trading Down 2.0 %

NYSE FE traded down $0.86 during trading on Tuesday, hitting $42.82. 3,853,211 shares of the company’s stock traded hands, compared to its average volume of 2,921,404. The stock has a fifty day moving average of $43.70 and a two-hundred day moving average of $41.00. FirstEnergy has a 12-month low of $34.92 and a 12-month high of $44.97. The firm has a market cap of $24.66 billion, a P/E ratio of 30.58, a PEG ratio of 2.28 and a beta of 0.50. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.47 billion. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. During the same period in the prior year, the business posted $0.47 EPS. As a group, sell-side analysts expect that FirstEnergy will post 2.7 EPS for the current year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s dividend payout ratio is 120.57%.

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.