Jefferies Raising Estimates on FirstEnergy (FE); Pulp Fiction
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Price: $45.96 -2.59%
Rating Summary:
16 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies maintains a 'Hold' on FirstEnergy Corp. (NYSE: FE) price target of $43.00.
Jefferies analyst says, ""The company announced a change in its pension accounting on January 26, 2012 under which it will recognize actuarial gains/losses in the year in which they occur. Previously the company had amortized these losses over roughly a ten year period...The elimination of the amortization of actuarial losses will increase GAAP and operating earnings by $0.22 in 2011."
"We are increasing our 4Q11 EPS estimate by $0.10 to $0.80 and our full year 2011 EPS estimates by $0.25 to $3.45, respectively to reflect a change in the company's pension accounting. We are also increasing our 2012 estimate by $0.10 to $3.10."
For an analyst ratings summary and ratings history on FirstEnergy Corp. click here. For more ratings news on FirstEnergy Corp. click here.
Shares of FirstEnergy Corp. closed at $42.15 yesterday.
Jefferies analyst says, ""The company announced a change in its pension accounting on January 26, 2012 under which it will recognize actuarial gains/losses in the year in which they occur. Previously the company had amortized these losses over roughly a ten year period...The elimination of the amortization of actuarial losses will increase GAAP and operating earnings by $0.22 in 2011."
"We are increasing our 4Q11 EPS estimate by $0.10 to $0.80 and our full year 2011 EPS estimates by $0.25 to $3.45, respectively to reflect a change in the company's pension accounting. We are also increasing our 2012 estimate by $0.10 to $3.10."
For an analyst ratings summary and ratings history on FirstEnergy Corp. click here. For more ratings news on FirstEnergy Corp. click here.
Shares of FirstEnergy Corp. closed at $42.15 yesterday.
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