Consolidated Edison (ED) to Release Quarterly Earnings on Thursday

Consolidated Edison (NYSE:ED - Get Free Report) is set to post its quarterly earnings results after the market closes on Thursday, November 7th. Analysts expect Consolidated Edison to post earnings of $1.55 per share for the quarter.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business posted $0.61 earnings per share. 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 Performance

ED stock traded down $1.04 during midday trading on Thursday, hitting $101.68. The company's stock had a trading volume of 3,732,285 shares, compared to its average volume of 1,836,294. The stock has a market cap of $35.20 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 3.57 and a beta of 0.36. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The stock's 50-day moving average price is $103.56 and its 200 day moving average price is $97.53. Consolidated Edison has a 1 year low of $85.85 and a 1 year high of $107.75.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison's dividend payout ratio (DPR) is currently 64.59%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Friday, August 2nd. Scotiabank boosted their target price on Consolidated Edison from $85.00 to $90.00 and gave the company a "sector underperform" rating in a research note on Tuesday, August 20th. Citigroup upgraded Consolidated Edison from a "neutral" rating to a "buy" rating and increased their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Morgan Stanley boosted their price objective on Consolidated Edison from $82.00 to $87.00 and gave the company an "underweight" rating in a research note on Wednesday, September 25th. Finally, Bank of America increased their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $98.73.

Consolidated Edison Company Profile

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.