FirstEnergy Corp’s FY2023 EPS Estimates Slashed by Analyst

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FIRSTENERGY ($NYSE:FE): FirstEnergy Corp is an energy company based out of Ohio, United States. It is one of the largest investors-owned utilities in the United States. Recently, FirstEnergy Corp’s FY2023 EPS Estimates have been slashed by an analyst. Analyst at a leading investment bank has cut the EPS Estimates for the FirstEnergy Corp for FY2023 due to the uncertain market conditions. The analyst cited the ongoing pandemic and its impact on the company’s operations as the main reason behind the lower estimates. The analyst noted that the company will be facing declining profits, higher expenses, and lower customer demand in the coming year, resulting in lowered EPS estimates. The analyst further highlighted that the uncertainty in the energy market will continue to put pressure on FirstEnergy Corp’s performance in the near future. This will likely result in slower growth and higher costs for the company, leading to lower profits.

Additionally, the analyst stated that the company’s investments in renewable energy sources and other technologies are also a factor that could potentially reduce its earnings estimates. The reduced EPS estimates for FirstEnergy Corp come as a shock to investors and shareholders. The company’s stock has seen a decline as a result of this news. Investors now question if the company will be able to meet its financial targets for FY2023. It remains to be seen how the company will adjust its strategies and plans to address the current situation and achieve its goals.

Earnings

FirstEnergy Corp recently released their earnings report from their FY2022 Q3 as of September 30th, which showed a 7.2% increase in total revenue and a 7.7% decrease in net income. This earned them 11.9B USD in total revenue, and 1.2B USD in net income. Over the last three years, FIRSTENERGY CORP’s total revenue has increased from 10.8B USD to 11.9B USD.

However, despite these improvements, an analyst has recently slashed their EPS estimates for FY2023. This is likely due to the uncertainty of the current economic climate and the potential impact it may have on the company’s performance in the future. It is important to note that FIRSTENERGY CORP’s performance over the last three years has been strong and consistent, so it is possible that the analyst is being overly cautious with their estimates. It remains to be seen what impact the slashed EPS estimates will have on FIRSTENERGY CORP’s stock price and overall performance in the long term. The company will need to continue to monitor their performance over the next year and make sure that they are making the necessary adjustments to remain competitive in their industry. If they can do this, then it is likely that their stock price will soon recover and their performance will continue to remain strong.

About the Company

Stock Price

At the time of writing, news sentiment around the company is mostly negative. On Friday, FirstEnergy Corp stock opened at $41.6 and closed at $41.5, a drop of 0.5% from the previous closing price of 41.7. It is one of the largest investor-owned electric utility companies in the United States. The company operates through three segments: Regulated Distribution, Regulated Transmission, and Competitive Energy Services. The news of the estimates being slashed for FY2023 EPS has caused investors to take a more cautious approach when investing in FirstEnergy Corp. Analysts are expecting the company’s stock to remain volatile and have downgraded their outlook for the company.

The company has been struggling to meet its financial goals for the past few years and this has caused investors to lose confidence in the company. FirstEnergy Corp has also been subject to regulatory scrutiny from the Federal Energy Regulatory Commission and other regulatory bodies due to its involvement in energy markets. It remains to be seen how FirstEnergy Corp will respond to the news and how it will affect its future performance. Investors should keep an eye on how the company responds and make sure they are adequately informed before making any decisions regarding their investments in FirstEnergy Corp. Live Quote…

VI Analysis

Financial risk is an important factor when considering long term investments. The VI App simplifies the analysis of a company’s fundamentals to help investors make informed decisions. FIRSTENERGY CORP has been rated as a medium risk investment by the VI Risk Rating. This assessment takes into account financial and business aspects of the company. The detailed analysis provided by VI App also identifies various risk warnings that may be present in the income sheet, balance sheet, and cashflow statement. By registering with VI App, investors can gain access to this valuable information. The app also allows investors to customize their analysis according to their own risk tolerance, preferences, and individual objectives. Overall, FIRSTENERGY CORP has been rated as a medium risk investment by the VI Risk Rating. Investors should take into account the risk warnings identified by the app and their own risk tolerance when deciding whether or not to invest in the company. By using the detailed analysis provided by the VI App, investors can make more informed decisions about their investments. More…

VI Peers

FirstEnergy Corp is an electric utility company that serves customers in the Mid-Atlantic and Midwest United States. The company’s competitors include Fortis Inc, CenterPoint Energy Inc, and American Electric Power Co Inc.

– Fortis Inc ($TSX:FTS)

Fortis Inc. is a large holding company that owns several utilities companies across North America. It has a market cap of $24.59 billion as of 2022 and a return on equity of 8.51%. The company’s businesses include electricity generation, transmission and distribution, natural gas distribution, and power marketing. Fortis also owns a small but growing renewable energy business.

– CenterPoint Energy Inc ($NYSE:CNP)

CenterPoint Energy Inc is an energy delivery company. The Company operates in three segments: Electric Transmission & Distribution, Natural Gas Distribution and Pipeline & Field Services. It also provides other services to utilities and energy facilities.

– American Electric Power Co Inc ($NASDAQ:AEP)

American Electric Power Company, Inc. (AEP) is a public utility holding company that engages in the generation, transmission, and distribution of electricity in the United States. It is one of the largest electric utilities in the United States with more than 5 million customers. The company has a market capitalization of $44.13 billion as of 2022 and a return on equity of 10.57%. AEP’s operations are conducted through its subsidiaries, which include Appalachian Power Company, AEP Ohio, Indiana Michigan Power Company, Columbus Southern Power Company, and AEP Texas. The company generates electricity from coal, natural gas, nuclear, and renewable sources.

Summary

Investing in FirstEnergy Corp can be a risky proposition, as it is facing several headwinds. The company recently had its FY2023 earnings per share estimates slashed by an analyst, which has caused some investors to become wary of the stock. The company has also been facing a number of challenges over the past few years, including the bankruptcy of its subsidiary FirstEnergy Solutions and the closing of several coal-fired power plants.

Additionally, the company has been facing pressure from environmental groups to reduce its reliance on coal and shift to renewable energy sources. Despite these challenges, investing in FirstEnergy Corp could still be a good option for investors who are willing to take on a bit of risk. The company has been making moves to diversify its energy portfolio, including investments in solar and wind energy projects. Additionally, the company has been making efforts to reduce its debt load and lower costs, while still investing in its core business. This could indicate that the stock is undervalued and could offer good potential for investors at the current price. This could make FirstEnergy Corp an attractive option for dividend investors. Overall, investing in FirstEnergy Corp could be a risky proposition, but with the potential for strong returns if the company can successfully navigate its current challenges. Investors should conduct their own due diligence before investing in the stock to determine if it is a suitable option for their portfolio.