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What's in the Offing for FirstEnergy's (FE) Q1 Earnings?
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FirstEnergy Corporation (FE - Free Report) 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.
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 - Free Report) 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 - Free Report) 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 - Free Report) 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.
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What's in the Offing for FirstEnergy's (FE) Q1 Earnings?
FirstEnergy Corporation (FE - Free Report) 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-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 - Free Report) 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 - Free Report) 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 - Free Report) 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 >>