FirstEnergy (NYSE:FE) Releases FY 2024 Earnings Guidance

FirstEnergy (NYSE:FE - Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.610-2.810 for the period, compared to the consensus estimate of 2.680. The company issued revenue guidance of -. FirstEnergy also updated its Q2 2024 guidance to 0.500-0.600 EPS.

Wall Street Analyst Weigh In

Several analysts recently commented on FE shares. StockNews.com lowered FirstEnergy from a hold rating to a sell rating in a research note on Monday, February 12th. KeyCorp upped their target price on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an overweight rating in a report on Thursday, January 4th. Bank of America lifted their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the company an underperform rating in a research note on Tuesday. Scotiabank reduced their target price on shares of FirstEnergy from $41.00 to $40.00 and set a sector perform rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group initiated coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They issued a buy rating and a $45.00 price target for the company. Two 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.com, FirstEnergy has a consensus rating of Hold and a consensus target price of $39.80.

FirstEnergy Stock Up 0.7 %

NYSE FE traded up $0.28 during trading hours on Thursday, reaching $38.58. 3,289,719 shares of the company's stock were exchanged, compared to its average volume of 3,346,997. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.38 and a current ratio of 0.48. The company has a market capitalization of $22.20 billion, a price-to-earnings ratio of 21.16 and a beta of 0.48. The company's 50-day moving average is $37.79 and its two-hundred day moving average is $37.08. FirstEnergy has a one year low of $32.18 and a one year high of $41.15.

FirstEnergy (NYSE:FE - Get Free Report) last announced its earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the business earned $0.50 EPS. The company's revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts forecast that FirstEnergy will post 2.66 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 issued a dividend of $0.425 per share. This is a boost from FirstEnergy's previous quarterly dividend of $0.41. The ex-dividend date is Monday, May 6th. This represents a $1.70 annualized dividend and a yield of 4.41%. FirstEnergy's dividend payout ratio is presently 90.61%.

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.

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