Consolidated Edison (ED) Getting Somewhat Favorable Press Coverage, Analysis Shows
Headlines about Consolidated Edison (NYSE:ED) have been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern identifies negative and positive press coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Consolidated Edison earned a daily sentiment score of 0.18 on Accern’s scale. Accern also gave media headlines about the utilities provider an impact score of 46.8564688079515 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the media headlines that may have impacted Accern’s analysis:
- Edison International (NYSE:EIX) Issues FY17 Earnings Guidance (overnewsmagazine.com)
- Consolidated Edison, Inc. (ED) Shares Sold by Nuveen Asset Management LLC (footballhebdo.com)
- See what the IHS Markit Score report has to say about Consolidated Edison Inc. (finance.yahoo.com)
- At a Pivot Point? Share Update on Consolidated Edison, Inc. (NYSE:ED) and Royal Caribbean Cruises Ltd. (NYSE:RCL) – FLBC News (flbcnews.com)
- Proshare Advisors LLC Sells A Little More Consolidated Edison, Inc. (ED) Stock Last Quarter – First News 24 (firstnewspaper24.com)
Several equities analysts recently commented on the company. UBS AG increased their target price on Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a report on Monday, May 8th. Zacks Investment Research lowered Consolidated Edison from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub lowered Consolidated Edison from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. BMO Capital Markets reissued a “hold” rating and issued a $80.00 target price on shares of Consolidated Edison in a report on Monday, May 15th. Finally, Deutsche Bank AG lowered Consolidated Edison from a “hold” rating to a “sell” rating and set a $74.00 target price on the stock. in a report on Monday, May 8th. Five equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Consolidated Edison presently has an average rating of “Hold” and a consensus target price of $76.96.
Consolidated Edison (NYSE:ED) traded up 0.61% during trading on Tuesday, reaching $83.05. 1,047,713 shares of the company’s stock traded hands. Consolidated Edison has a 1-year low of $68.76 and a 1-year high of $85.13. The stock has a market capitalization of $25.39 billion, a P/E ratio of 20.09 and a beta of 0.08. The stock has a 50-day moving average price of $81.94 and a 200 day moving average price of $79.52.
Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. During the same period in the previous year, the firm posted $0.60 EPS. Equities research analysts expect that Consolidated Edison will post $4.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s payout ratio is currently 66.67%.
In other Consolidated Edison news, Director Linda S. Sanford acquired 900 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average price of $79.74 per share, with a total value of $71,766.00. Following the transaction, the director now directly owns 8,748 shares in the company, valued at $697,565.52. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders bought a total of 1,292 shares of company stock valued at $104,366 in the last three months. Insiders own 0.20% of the company’s stock.
Consolidated Edison Company Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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