U.S. markets closed
  • S&P 500

    4,594.62
    -106.84 (-2.27%)
     
  • Dow 30

    34,899.34
    -905.04 (-2.53%)
     
  • Nasdaq

    15,491.66
    -353.57 (-2.23%)
     
  • Russell 2000

    2,245.94
    -85.52 (-3.67%)
     
  • Crude Oil

    68.15
    -10.24 (-13.06%)
     
  • Gold

    1,788.10
    +1.20 (+0.07%)
     
  • Silver

    23.14
    -0.40 (-1.70%)
     
  • EUR/USD

    1.1322
    +0.0110 (+0.99%)
     
  • 10-Yr Bond

    1.4820
    -0.1630 (-9.91%)
     
  • GBP/USD

    1.3342
    +0.0022 (+0.16%)
     
  • USD/JPY

    113.2600
    -2.0790 (-1.80%)
     
  • BTC-USD

    54,285.86
    -116.79 (-0.21%)
     
  • CMC Crypto 200

    1,365.60
    -89.82 (-6.17%)
     
  • FTSE 100

    7,044.03
    -266.34 (-3.64%)
     
  • Nikkei 225

    28,751.62
    -747.66 (-2.53%)
     

What's in the Offing for FirstEnergy's (FE) Q1 Earnings?

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

FirstEnergy Corporation FE is expected to release first-quarter 2021 results on Apr 22. The company witnessed a negative trailing four-quarter earnings surprise of 6.06%, on average.

Let’s focus on the factors that might have impacted its March-quarter performance.

Factors to Consider

FirstEnergy’s first-quarter results are expected to reflect improving demand from Commercial and Industrial group, and the residential space. Despite the ongoing pandemic, the utility made consistent efforts in enhancing its transmission lines to supply uninterrupted power. The company is expected to have benefited from $550 million in transmission rate base growth. FirstEnergy’s earnings are expected to have gained from its initiatives to lower operating costs.

Q1 Expectations

The company expects first-quarter 2021 earnings in the range of 62-72 cents per share. The Zacks Consensus Estimate for the same is pegged at 74 cents, which indicates a 12.12% rise from the year-ago period’s reported figure. The Zacks Consensus Estimate for first-quarter sales stands at $2.9 billion, suggesting growth of 7.07% from the year-ago period’s reported number.

What Our Quantitative Model Predicts

Our proven model does not predict an earnings beat for FirstEnergy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat but that is not the case here as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.

FirstEnergy Corporation Price and EPS Surprise

FirstEnergy Corporation Price and EPS Surprise
FirstEnergy Corporation Price and EPS Surprise

FirstEnergy Corporation price-eps-surprise | FirstEnergy Corporation Quote

Earnings ESP: FirstEnergy has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, FirstEnergy carries a Zacks Rank #4 (Sell).

Stocks to Consider

Investors can consider the following players from the same sector that have the right combination of elements to beat on earnings this reporting cycle.

DTE Energy Company DTE is set to release first-quarter 2021 results on Apr 27. It has an Earnings ESP of +0.67% and is Zacks #3 Ranked, presently.

Edison International EIX is set to release first-quarter 2021 results on Apr 27. It has an Earnings ESP of +11.65% and is currently a #3 Ranked player.

CenterPoint Energy, Inc. CNP is set to release first-quarter 2021 results on May 6. It has an Earnings ESP of +13.97% and a Zacks Rank of 3, presently.

Zacks Top 10 Stocks for 2021

In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?

Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.

AccessZacks Top 10 Stocks for 2021 today >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Edison International (EIX) : Free Stock Analysis Report

FirstEnergy Corporation (FE) : Free Stock Analysis Report

CenterPoint Energy, Inc. (CNP) : Free Stock Analysis Report

DTE Energy Company (DTE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research