$0.75 EPS Expected for Consolidated Edison Inc (ED) This Quarter

Brokerages expect Consolidated Edison Inc (NYSE:ED) to post earnings per share of $0.75 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Consolidated Edison’s earnings, with the highest EPS estimate coming in at $0.78 and the lowest estimate coming in at $0.72. Consolidated Edison posted earnings per share of $0.69 during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.7%. The business is scheduled to report its next earnings results on Thursday, February 15th.

According to Zacks, analysts expect that Consolidated Edison will report full-year earnings of $4.08 per share for the current financial year, with EPS estimates ranging from $4.04 to $4.10. For the next year, analysts anticipate that the company will report earnings of $4.26 per share, with EPS estimates ranging from $4.25 to $4.29. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Consolidated Edison.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.07). Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business earned $1.51 earnings per share.

A number of analysts have recently issued reports on the company. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research report on Tuesday, November 14th. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Bank of America Corporation assumed coverage on Consolidated Edison in a research report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price objective for the company. KeyCorp reaffirmed a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. Finally, Morgan Stanley lifted their price target on Consolidated Edison from $78.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Consolidated Edison currently has an average rating of “Hold” and an average price target of $80.32.

A number of large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC bought a new position in Consolidated Edison during the 3rd quarter worth $251,000. Smith Shellnut Wilson LLC ADV bought a new position in Consolidated Edison during the 3rd quarter worth $250,000. Archford Capital Strategies LLC increased its stake in Consolidated Edison by 14.7% during the 3rd quarter. Archford Capital Strategies LLC now owns 11,923 shares of the utilities provider’s stock worth $962,000 after acquiring an additional 1,529 shares during the period. Gyroscope Capital Management Group LLC bought a new position in Consolidated Edison during the 3rd quarter worth $1,251,000. Finally, Belpointe Asset Management LLC bought a new position in Consolidated Edison during the 3rd quarter worth $876,000. 55.48% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison (NYSE ED) traded up $0.24 on Monday, hitting $86.90. The stock had a trading volume of 603,800 shares, compared to its average volume of 1,511,228. Consolidated Edison has a 52 week low of $68.85 and a 52 week high of $89.58. The firm has a market capitalization of $26,945.00, a PE ratio of 21.67, a price-to-earnings-growth ratio of 7.08 and a beta of 0.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.79.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.76 annualized dividend and a yield of 3.18%. Consolidated Edison’s payout ratio is currently 69.00%.

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About Consolidated Edison

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

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Earnings History and Estimates for Consolidated Edison (NYSE:ED)

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