$0.78 EPS Expected for Consolidated Edison, Inc. (NYSE:ED) This Quarter

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Brokerages predict that Consolidated Edison, Inc. (NYSE:ED) will report $0.78 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Consolidated Edison’s earnings. The highest EPS estimate is $0.80 and the lowest is $0.76. Consolidated Edison posted earnings per share of $0.77 in the same quarter last year, which would suggest a positive year over year growth rate of 1.3%. The business is expected to announce its next earnings report on Thursday, February 20th.

On average, analysts expect that Consolidated Edison will report full-year earnings of $4.32 per share for the current year, with EPS estimates ranging from $4.27 to $4.35. For the next fiscal year, analysts anticipate that the company will post earnings of $4.53 per share, with EPS estimates ranging from $4.45 to $4.62. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Consolidated Edison.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by ($0.04). The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.50 billion. Consolidated Edison had a return on equity of 7.92% and a net margin of 10.98%. During the same period in the prior year, the firm posted $1.57 earnings per share.

A number of analysts have recently commented on the company. Barclays cut Consolidated Edison from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $95.00 to $88.00 in a research note on Wednesday, November 27th. Wells Fargo & Co upped their price target on Consolidated Edison from $94.00 to $95.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Morgan Stanley lowered their price target on Consolidated Edison from $90.00 to $89.00 and set an “underweight” rating for the company in a research note on Thursday, October 17th. UBS Group upped their price target on Consolidated Edison from $96.00 to $98.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, KeyCorp upped their price target on Consolidated Edison from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Consolidated Edison has a consensus rating of “Hold” and an average price target of $91.51.

NYSE:ED traded up $0.31 on Friday, hitting $87.83. 1,842,094 shares of the stock were exchanged, compared to its average volume of 1,331,528. The stock has a market capitalization of $29.20 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 10.15 and a beta of 0.02. Consolidated Edison has a 52 week low of $73.29 and a 52 week high of $94.97. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.52 and a current ratio of 0.58. The company’s 50-day moving average price is $88.21 and its 200 day moving average price is $88.89.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.74 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.96 dividend on an annualized basis and a yield of 3.37%. Consolidated Edison’s payout ratio is 68.52%.

A number of hedge funds and other institutional investors have recently bought and sold shares of ED. Krane Funds Advisors LLC acquired a new position in Consolidated Edison during the 2nd quarter worth approximately $25,000. FTB Advisors Inc. boosted its position in Consolidated Edison by 220.2% during the 2nd quarter. FTB Advisors Inc. now owns 285 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 196 shares during the last quarter. Coastal Capital Group Inc. acquired a new position in Consolidated Edison during the 2nd quarter worth approximately $26,000. 1 North Wealth Services LLC acquired a new position in Consolidated Edison during the 3rd quarter worth approximately $28,000. Finally, Golden State Wealth Management LLC acquired a new position in Consolidated Edison during the 3rd quarter worth approximately $32,000. 59.94% of the stock is owned by institutional investors and hedge funds.

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 3.5 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 1,622 customers in parts of Manhattan.

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