FirstEnergy Corporation’s (FE Quick QuoteFE ) expanding regulated base and improving transmission lines are likely to boost its earnings. Also, the company’s efforts to reduce emission levels are expected to be beneficial in the future.
The Zacks Consensus Estimate for 2021 earnings is pegged at $2.55 per share, indicating growth of 6.69% from the year-ago reported figure. Also, the consensus mark for current-year revenues stands at $11.02 billion, suggesting 2.14% growth from the prior-year reported number. In the past six months, shares of this presently Zacks Rank #3 (Hold) company have gained 6.3%, outperforming the industry’s rise of 3.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Six Months Price Performance
Image Source: Zacks Investment Research
What’s Driving the Stock?
FirstEnergy’s efforts to extend its regulated generation mix lent consistency to its long-term earnings. The utility’s transmission and distribution operations are spread across 65,000 square miles in six states and its rate structure provides stability during an economic crisis. Its investment in strengthening the transmission and distribution lines will enable it to serve its six million customers more efficiently. The utility anticipates investment worth up to $2.9 billion in reinforcing its transmission and distribution network during 2021.
Owing to the revival of economic activities following vaccination drives, demand from the commercial and industrial group improved in the June quarter. Also, the company generates nearly 65% of its distribution revenues from its residential customers. This is likely to strengthen its prospects in this difficult period.
FirstEnergy is focused on lowering its emission levels and undertook initiatives to that end. In November 2020, it updated its target to become net carbon neutral by 2050. Other electric utilities like Alliant Energy Corporation (LNT Quick QuoteLNT ) , CMS Energy Corporation (CMS Quick QuoteCMS ) and Pinnacle West Capital (PNW Quick QuotePNW ) are also making sustained efforts to expand their renewable portfolio alongside trimming toxic emissions.
Top Performing Stocks To Invest In Right Now: Capri Holdings Limited(CPRI)
Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. The company's Versace segment offers ready-to-wear, accessories, footwear, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques; and department and specialty stores, as well as through Versace e-commerce sites. It also licenses Versace brand name and trademarks to third parties to retail and/or wholesale its products; and has licensing agreements to the manufacture and sale of jeans, fragrances, watches, eyewear, and home furnishings. The company was formerly known as Michael Kors Holdings Limited and changed its name to Capri Holdings Limited in December 2018. Capri Holdings Limited was founded in 1981 and is headquartered in London, the United Kingdom.
Advisors’ Opinion:
- [By Joseph Griffin]
Capri Holdings Ltd (NYSE:CPRI) has been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $57.60.
- [By Shane Hupp]
Capri (NYSE:CPRI) and Michael Kors (NYSE:KORS) are both mid-cap retail/wholesale companies, but which is the superior business? We will contrast the two companies based on the strength of their analyst recommendations, risk, earnings, dividends, institutional ownership, valuation and profitability.
- [By Jeremy Bowman]
Shares of Fossil Group (NASDAQ:FOSL) were heading lower today after rival Capri Holdings (NYSE:CPRI), the parent of fashion brands Michael Kors, Jimmy Choo, and Versace, noted weakness in the watch market. That pressured shares of Fossil as watches make up the fashion brand’s core business. The stock was down 10% as of 3 p.m. EST on Wednesday.
Top Performing Stocks To Invest In Right Now: ICON plc(ICLR)
ICON Public Limited Company, a contract research organization, provides outsourced development services to the pharmaceutical, biotechnology, and medical device industries in Ireland, rest of Europe, the United States, and internationally. It develops, manages, and analyzes programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies. The company also offers clinical trials management, biometric activities, consulting, imaging, contract staffing, informatics, and laboratory services. Its clinical development services include investigator recruitment, study monitoring and data collection, case report form preparation, statistical analysis, patient safety monitoring, risk-based monitoring, clinical data management, interactive response technologies, electronic patient reported outcomes, medical reporting, patient registries, outcomes research, health economics, market access and commercialization services, strategic analysis and data operations, bioanalysis, immunoassay development, pharmacokinetic and pharmacodynamic analysis, and study protocol preparation. The companys clinical development services also comprise regulatory consulting, product development planning, strategic consulting, pricing and market access consulting, strategic resourcing, electronic endpoint adjudication, sample analyses, safety testing, microbiology, custom flow cytometry, electronic transmission of test results, biomarker development, adaptive trial design and execution, medical device trials, and healthcare communication services. ICON Public Limited Company was founded in 1990 and is headquartered in Dublin, Ireland.
