Consolidated Edison (ED) Scheduled to Post Quarterly Earnings on Thursday

Consolidated Edison (NYSE:ED) is set to issue its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.98 per share for the quarter.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 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

Shares of Consolidated Edison stock opened at $93.43 on Thursday. The firm has a market cap of $32.28 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 8.75 and a beta of 0.35. The stock’s 50-day moving average is $89.29 and its 200-day moving average is $89.83. Consolidated Edison has a one year low of $80.46 and a one year high of $100.92. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.55%. Consolidated Edison’s dividend payout ratio (DPR) is 46.24%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barclays upped their target price on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. LADENBURG THALM/SH SH initiated coverage on Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price on the stock. Scotiabank dropped their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research note on Monday. UBS Group dropped their price target on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Finally, KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $87.54.

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.