Equities research analysts predict that Consolidated Edison, Inc. (NYSE:ED) will announce $0.78 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Consolidated Edison’s earnings, with estimates ranging from $0.76 to $0.80. Consolidated Edison posted earnings of $0.77 per share in the same quarter last year, which indicates a positive year over year growth rate of 1.3%. The business is scheduled to issue its next quarterly 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 financial year, with EPS estimates ranging from $4.27 to $4.35. For the next financial year, analysts expect that the business will post earnings of $4.53 per share, with EPS estimates ranging from $4.45 to $4.62. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Consolidated Edison.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). Consolidated Edison had a return on equity of 7.92% and a net margin of 10.98%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the firm earned $1.57 earnings per share.

ED has been the topic of a number of recent analyst reports. Credit Suisse Group dropped their price target on shares of Consolidated Edison from $90.00 to $89.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 5th. KeyCorp boosted their price target on shares of Consolidated Edison from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Bank of America lowered shares of Consolidated Edison from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $99.00 to $92.00 in a research note on Thursday, November 14th. Mizuho upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $93.00 to $98.00 in a research note on Friday, October 25th. Finally, Morgan Stanley lowered their target price on shares of Consolidated Edison from $90.00 to $89.00 and set an “underweight” rating on the stock in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $91.51.

Shares of Consolidated Edison stock traded up $0.31 on Friday, reaching $87.83. 1,842,094 shares of the stock were exchanged, compared to its average volume of 1,331,528. Consolidated Edison has a 1-year low of $73.29 and a 1-year high of $94.97. The company has a current ratio of 0.58, a quick ratio of 0.52 and a debt-to-equity ratio of 1.01. The business has a fifty day moving average price of $88.21 and a two-hundred day moving average price of $88.89. The firm has a market capitalization of $29.20 billion, a PE ratio of 20.33, a PEG ratio of 10.15 and a beta of 0.02.

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

Institutional investors and hedge funds have recently modified their holdings of the business. FTB Advisors Inc. lifted its holdings in shares of Consolidated Edison by 220.2% in the second quarter. FTB Advisors Inc. now owns 285 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 196 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Consolidated Edison in the second quarter valued at about $25,000. Coastal Capital Group Inc. purchased a new stake in shares of Consolidated Edison in the second quarter valued at about $26,000. 1 North Wealth Services LLC purchased a new stake in shares of Consolidated Edison in the third quarter valued at about $28,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the third quarter valued at about $32,000. Institutional investors own 59.94% of the company’s stock.

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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