$1.35 Earnings Per Share Expected for Consolidated Edison, Inc. (ED) This Quarter

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.

A number of equities research analysts have recently weighed in on the stock. Guggenheim reaffirmed a “hold” rating and set a $88.00 target price on shares of Consolidated Edison in a research note on Wednesday, January 3rd. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Wednesday, January 3rd. Morgan Stanley dropped their price objective on shares of Consolidated Edison from $80.00 to $74.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 13th. UBS Group initiated coverage on shares of Consolidated Edison in a research note on Friday, February 2nd. They set a “neutral” rating and a $80.00 price objective on the stock. Finally, ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.32.

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%.

TRADEMARK VIOLATION WARNING: This article was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://stocknewstimes.com/2018/02/21/1-35-earnings-per-share-expected-for-consolidated-edison-inc-ed-this-quarter.html.

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).

Get a free copy of the Zacks research report on Consolidated Edison (ED)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply