Consolidated Edison (NYSE:ED – Get Free Report) posted its earnings results on Thursday. The utilities provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.89 by $0.26, Briefing.com reports. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.40 billion. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.86%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.83 earnings per share. Consolidated Edison updated its FY24 guidance to $5.20-5.40 EPS.
Consolidated Edison Trading Up 0.3 %
NYSE:ED opened at $95.56 on Friday. The stock has a market capitalization of $33.02 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 8.99 and a beta of 0.34. The firm has a fifty day simple moving average of $90.21 and a two-hundred day simple moving average of $90.13. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. Consolidated Edison has a 12 month low of $80.46 and a 12 month high of $100.44.
Consolidated Edison Dividend Announcement
The company also recently declared 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 of this dividend is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.47%. Consolidated Edison’s dividend payout ratio (DPR) is currently 63.72%.
Wall Street Analysts Forecast Growth
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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.
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