Consolidated Edison (NYSE:ED – Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 5.200-5.400 for the period, compared to the consensus estimate of 5.310. The company issued revenue guidance of -.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Consolidated Edison from $93.00 to $97.00 and gave the company an equal weight rating in a research note on Friday. UBS Group decreased their target price on Consolidated Edison from $99.00 to $94.00 and set a neutral rating for the company in a research report on Friday, February 16th. Barclays upped their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an equal weight rating in a report on Thursday, March 14th. Scotiabank cut their price target on Consolidated Edison from $91.00 to $85.00 and set a sector underperform rating for the company in a research note on Monday, April 22nd. Finally, Royal Bank of Canada decreased their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a sector perform rating on the stock in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $87.75.
Consolidated Edison Trading Up 0.3 %
Consolidated Edison (NYSE:ED – Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same period in the prior year, the firm posted $1.83 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Consolidated Edison will post 5.31 earnings per share for the current fiscal year.
Consolidated Edison Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s payout ratio is 63.72%.
Consolidated Edison Company Profile
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 3.7 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 1,530 customers in parts of Manhattan.
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