FirstEnergy (NYSE:FE) Releases Q2 2024 Earnings Guidance

FirstEnergy (NYSE:FE) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.500-0.600 for the period, compared to the consensus estimate of 0.540. The company issued revenue guidance of -. FirstEnergy also updated its FY 2024 guidance to 2.610-2.810 EPS.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FE. KeyCorp raised their price target on FirstEnergy from $41.00 to $43.00 and gave the stock an overweight rating in a report on Thursday, January 4th. StockNews.com lowered FirstEnergy from a hold rating to a sell rating in a report on Monday, February 12th. The Goldman Sachs Group began coverage on FirstEnergy in a report on Wednesday, April 10th. They issued a buy rating and a $45.00 price target for the company. Bank of America raised their price target on FirstEnergy from $30.00 to $35.00 and gave the stock an underperform rating in a report on Tuesday, April 23rd. Finally, Scotiabank cut their price target on FirstEnergy from $41.00 to $40.00 and set a sector perform rating for the company in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $39.80.

FirstEnergy Trading Down 1.1 %

Shares of NYSE:FE traded down $0.44 on Friday, reaching $38.13. 5,476,310 shares of the company traded hands, compared to its average volume of 2,560,779. The business’s 50-day simple moving average is $37.83 and its 200 day simple moving average is $37.13. FirstEnergy has a 52 week low of $32.18 and a 52 week high of $41.15. The stock has a market capitalization of $21.94 billion, a P/E ratio of 21.91 and a beta of 0.48. The company has a current ratio of 0.48, a quick ratio of 0.38 and a debt-to-equity ratio of 2.10.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. FirstEnergy had a return on equity of 13.21% and a net margin of 8.22%. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.36 billion. As a group, equities analysts anticipate that FirstEnergy will post 2.68 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Monday, May 6th. This is a boost from FirstEnergy’s previous quarterly dividend of $0.41. This represents a $1.70 annualized dividend and a dividend yield of 4.46%. FirstEnergy’s dividend payout ratio (DPR) is presently 94.25%.

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.