Wall Street analysts forecast that FirstEnergy (FE) will report quarterly earnings of $0.52 per share in its upcoming release, pointing to a year-over-year decline of 22.4%. It is anticipated that revenues will amount to $3.24 billion, exhibiting an increase of 2% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain FirstEnergy metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'External Revenues- FirstEnergy Consolidated' to reach $3.17 billion. The estimate indicates a year-over-year change of -0.1%.
The average prediction of analysts places 'External Revenues- Distribution' at $1.60 billion. The estimate indicates a year-over-year change of -1.6%.
Analysts' assessment points toward 'Total Electric Distribution Deliveries - Actual' reaching 34611 megawatt hours. The estimate compares to the year-ago value of 34768 megawatt hours.
View all Key Company Metrics for FirstEnergy here>>>Over the past month, FirstEnergy shares have recorded returns of +5.2% versus the Zacks S&P 500 composite's -0.3% change. Based on its Zacks Rank #2 (Buy), FE will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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