Research Analysts Issue Forecasts for ED FY2024 Earnings

Consolidated Edison, Inc. (NYSE:ED - Free Report) - Equities researchers at Scotiabank issued their FY2024 earnings per share (EPS) estimates for shares of Consolidated Edison in a report issued on Wednesday, January 8th. Scotiabank analyst A. Weisel anticipates that the utilities provider will post earnings of $5.36 per share for the year. Scotiabank has a "Sector Perform" rating and a $100.00 price objective on the stock. The consensus estimate for Consolidated Edison's current full-year earnings is $5.34 per share. Scotiabank also issued estimates for Consolidated Edison's FY2025 earnings at $5.60 EPS.

Several other equities analysts have also recently commented on the company. Morgan Stanley cut their price target on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, November 22nd. Jefferies Financial Group assumed coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a "hold" rating and a $108.00 target price for the company. Citigroup upgraded shares of Consolidated Edison from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Barclays dropped their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating for the company in a research note on Friday, November 8th. Finally, UBS Group lifted their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $100.64.

Consolidated Edison Stock Down 0.9 %

Shares of ED opened at $88.19 on Monday. 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 company has a 50-day simple moving average of $94.15 and a 200-day simple moving average of $97.91. Consolidated Edison has a 52 week low of $85.85 and a 52 week high of $107.75. The firm has a market capitalization of $30.55 billion, a P/E ratio of 16.61, a P/E/G ratio of 3.11 and a beta of 0.38.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion during the quarter, compared to analysts' expectations of $4.02 billion.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Wednesday, November 13th. Consolidated Edison's payout ratio is currently 62.52%.

Institutional Investors Weigh In On Consolidated Edison

A number of large investors have recently bought and sold shares of ED. RMR Wealth Builders increased its position in Consolidated Edison by 8.7% in the 4th quarter. RMR Wealth Builders now owns 3,576 shares of the utilities provider's stock valued at $319,000 after acquiring an additional 287 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Consolidated Edison by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 8,707 shares of the utilities provider's stock worth $777,000 after purchasing an additional 213 shares during the last quarter. ST Germain D J Co. Inc. raised its position in Consolidated Edison by 60.5% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,194 shares of the utilities provider's stock worth $107,000 after purchasing an additional 450 shares during the last quarter. Douglas Lane & Associates LLC lifted its holdings in Consolidated Edison by 54.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 5,504 shares of the utilities provider's stock worth $491,000 after buying an additional 1,947 shares in the last quarter. Finally, Diversified Trust Co boosted its position in Consolidated Edison by 0.3% in the 4th quarter. Diversified Trust Co now owns 44,317 shares of the utilities provider's stock valued at $3,954,000 after buying an additional 138 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

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.