Consolidated Edison (ED) Set to Announce Earnings on Thursday

Consolidated Edison (NYSE:ED) is scheduled to be announcing its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.98 per share for the quarter.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The company’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. On average, analysts expect Consolidated Edison to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Consolidated Edison Stock Up 0.5 %

Shares of ED stock opened at $94.40 on Wednesday. Consolidated Edison has a 52-week low of $80.46 and a 52-week high of $100.44. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. The stock has a market cap of $32.62 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 8.75 and a beta of 0.35. The firm’s 50-day moving average is $89.79 and its 200-day moving average is $90.01.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $0.83 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.52%. Consolidated Edison’s payout ratio is 46.24%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ED shares. UBS Group dropped their price target on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Scotiabank cut their target price on shares of 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. Barclays lifted their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Finally, LADENBURG THALM/SH SH initiated coverage on Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective for the company. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and a consensus target price of $87.54.

About Consolidated Edison

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.