Wall Street analysts expect Consolidated Edison, Inc. (NYSE:ED) to report earnings of $0.76 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Consolidated Edison’s earnings, with estimates ranging from $0.74 to $0.79. Consolidated Edison reported earnings per share of $0.80 in the same quarter last year, which suggests a negative year over year growth rate of 5%. The company is expected to announce its next quarterly earnings results after the market closes on Thursday, February 21st.
According to Zacks, analysts expect that Consolidated Edison will report full year earnings of $4.31 per share for the current fiscal year, with EPS estimates ranging from $4.30 to $4.32. For the next fiscal year, analysts anticipate that the business will post earnings of $4.32 per share, with EPS estimates ranging from $4.15 to $4.45. Zacks’ EPS averages are an average based on a survey of research analysts that cover Consolidated Edison.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Wednesday. Barclays lifted their price target on shares of Consolidated Edison from $79.00 to $83.00 and gave the stock a “hold” rating in a research note on Monday, November 19th. Morgan Stanley lifted their price target on shares of Consolidated Edison from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Tuesday. ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Wednesday, December 5th. Finally, Evercore ISI cut shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $78.07 price target for the company. in a research note on Tuesday. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $76.64.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Gravity Companies Inc. bought a new stake in Consolidated Edison during the 4th quarter valued at about $28,000. Orrstown Financial Services Inc. bought a new stake in Consolidated Edison during the 4th quarter valued at about $31,000. Heritage Wealth Advisors bought a new stake in Consolidated Edison during the 4th quarter valued at about $33,000. Larson Financial Group LLC bought a new stake in Consolidated Edison during the 4th quarter valued at about $33,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Consolidated Edison by 7,452.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,577,390 shares of the utilities provider’s stock valued at $34,000 after buying an additional 2,543,263 shares in the last quarter. Institutional investors own 58.76% of the company’s stock.
ED stock opened at $77.83 on Thursday. Consolidated Edison has a 12 month low of $71.12 and a 12 month high of $84.32. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.62 and a quick ratio of 0.56. The stock has a market cap of $24.72 billion, a P/E ratio of 19.03, a PEG ratio of 6.09 and a beta of 0.12.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Wednesday, February 13th will be issued a dividend of $0.74 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, February 12th. This represents a $2.96 dividend on an annualized basis and a yield of 3.80%. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.93%.
Consolidated Edison Company Profile
Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 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 1,600 customers in parts of Manhattan.
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