Equities analysts expect that Consolidated Edison, Inc. (NYSE:ED) will post earnings per share of $1.35 for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Consolidated Edison’s earnings, with estimates ranging from $1.31 to $1.39. Consolidated Edison reported earnings of $1.27 per share during the same quarter last year, which indicates a positive year over year growth rate of 6.3%. The business is expected to announce its next quarterly earnings results on Thursday, May 3rd.
On average, analysts expect that Consolidated Edison will report full year earnings of $4.27 per share for the current financial year, with EPS estimates ranging from $4.25 to $4.30. For the next year, analysts anticipate that the business will post earnings of $4.42 per share, with EPS estimates ranging from $4.40 to $4.44. Zacks’ EPS calculations are an average based on a survey of research firms that cover Consolidated Edison.
Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 15th. The utilities provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.64 billion. Consolidated Edison had a net margin of 12.67% and a return on equity of 8.51%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS.
Institutional investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC raised its holdings in shares of Consolidated Edison by 5.6% during the third quarter. Parametric Portfolio Associates LLC now owns 1,109,470 shares of the utilities provider’s stock valued at $89,512,000 after purchasing an additional 59,098 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Consolidated Edison by 16.2% during the third quarter. Private Advisor Group LLC now owns 39,980 shares of the utilities provider’s stock valued at $3,257,000 after purchasing an additional 5,567 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Consolidated Edison by 25.3% during the third quarter. Janus Henderson Group PLC now owns 2,883,134 shares of the utilities provider’s stock valued at $232,610,000 after purchasing an additional 582,457 shares during the last quarter. APG Asset Management N.V. raised its holdings in shares of Consolidated Edison by 28.4% during the fourth quarter. APG Asset Management N.V. now owns 5,209,155 shares of the utilities provider’s stock valued at $368,519,000 after purchasing an additional 1,153,600 shares during the last quarter. Finally, Lincoln National Corp raised its holdings in shares of Consolidated Edison by 24.6% during the third quarter. Lincoln National Corp now owns 9,637 shares of the utilities provider’s stock valued at $778,000 after purchasing an additional 1,901 shares during the last quarter. 56.79% of the stock is owned by institutional investors and hedge funds.
Shares of Consolidated Edison (NYSE ED) opened at $76.36 on Wednesday. The firm has a market cap of $24,139.58, a PE ratio of 15.46, a PEG ratio of 9.10 and a beta of 0.03. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.65 and a current ratio of 0.72. Consolidated Edison has a 52 week low of $73.22 and a 52 week high of $89.70.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 14th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a yield of 3.75%. Consolidated Edison’s payout ratio is 57.89%.
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Consolidated Edison Company Profile
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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