Consolidated Edison (ED) Expected to Announce Earnings on Thursday

Consolidated Edison (NYSE:ED - Get Free Report) will likely be issuing its quarterly earnings data after the market closes on Thursday, February 20th. Analysts expect the company to announce earnings of $0.97 per share and revenue of $3.63 billion for the quarter.

Consolidated Edison Trading Down 0.7 %

NYSE:ED traded down $0.65 during midday trading on Friday, reaching $95.01. 1,948,209 shares of the stock traded hands, compared to its average volume of 2,415,540. The company has a fifty day moving average of $91.84 and a 200 day moving average of $98.13. Consolidated Edison has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The stock has a market capitalization of $32.91 billion, a P/E ratio of 17.89, a PEG ratio of 3.04 and a beta of 0.39.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This is a positive change from Consolidated Edison's previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison's dividend payout ratio is currently 62.52%.

Wall Street Analyst Weigh In

ED has been the subject of a number of recent analyst reports. Scotiabank upgraded shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and upped their price target for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Barclays decreased their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating for the company in a report on Monday, January 27th. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, November 22nd. Evercore ISI lowered shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Finally, Mizuho upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $100.00.

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.