Brokerages Expect Consolidated Edison, Inc. (NYSE:ED) Will Post Earnings of $1.52 Per Share

Wall Street analysts expect Consolidated Edison, Inc. (NYSE:EDGet Rating) to post earnings of $1.52 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Consolidated Edison’s earnings, with estimates ranging from $1.33 to $1.70. Consolidated Edison posted earnings per share of $1.43 during the same quarter last year, which indicates a positive year over year growth rate of 6.3%. The firm is scheduled to issue its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Consolidated Edison will report full-year earnings of $4.47 per share for the current year, with EPS estimates ranging from $4.46 to $4.50. For the next fiscal year, analysts anticipate that the firm will report earnings of $4.79 per share, with EPS estimates ranging from $4.67 to $4.98. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Consolidated Edison.

Consolidated Edison (NYSE:EDGet Rating) last released its quarterly earnings results on Thursday, February 17th. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.15. The business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Consolidated Edison had a return on equity of 7.63% and a net margin of 9.84%. During the same quarter in the prior year, the firm posted $0.75 EPS.

ED has been the topic of a number of analyst reports. Wolfe Research upgraded Consolidated Edison from an “underperform” rating to a “peer perform” rating and set a $82.00 target price on the stock in a report on Thursday, February 17th. Royal Bank of Canada increased their target price on Consolidated Edison from $88.00 to $89.00 and gave the company a “sector perform” rating in a report on Monday, March 28th. The Goldman Sachs Group increased their target price on Consolidated Edison from $65.00 to $83.00 and gave the company a “sell” rating in a report on Thursday, March 31st. KeyCorp increased their target price on Consolidated Edison from $65.00 to $71.00 and gave the company an “underweight” rating in a report on Thursday, January 13th. Finally, Mizuho increased their target price on Consolidated Edison from $90.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, March 10th. Seven equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $79.42.

In related news, Director John Mcavoy sold 74,715 shares of the stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $84.69, for a total value of $6,327,613.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 512 shares of company stock worth $46,801 over the last ninety days. Corporate insiders own 0.17% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ED. DB Fitzpatrick & Co Inc purchased a new position in shares of Consolidated Edison in the 4th quarter worth $25,000. Emfo LLC raised its position in Consolidated Edison by 217.4% in the third quarter. Emfo LLC now owns 365 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 250 shares during the period. Shore Point Advisors LLC purchased a new position in Consolidated Edison in the fourth quarter valued at about $26,000. Godsey & Gibb Associates purchased a new position in Consolidated Edison in the fourth quarter valued at about $26,000. Finally, Tyler Stone Wealth Management purchased a new position in Consolidated Edison in the fourth quarter valued at about $26,000. 62.01% of the stock is currently owned by institutional investors and hedge funds.

NYSE:ED traded up $0.78 during trading hours on Thursday, reaching $97.72. 25,715 shares of the company traded hands, compared to its average volume of 2,176,323. The firm’s 50-day moving average is $90.08 and its 200-day moving average is $83.80. The stock has a market cap of $34.61 billion, a P/E ratio of 25.18, a P/E/G ratio of 10.96 and a beta of 0.22. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.02 and a quick ratio of 0.94. Consolidated Edison has a 1-year low of $71.17 and a 1-year high of $98.65.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Wednesday, February 16th were issued a dividend of $0.79 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, February 15th. This represents a $3.16 annualized dividend and a dividend yield of 3.23%. Consolidated Edison’s dividend payout ratio (DPR) is 82.08%.

Consolidated Edison Company Profile (Get Rating)

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.5 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,555 customers in parts of Manhattan.

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

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