FY2024 Earnings Forecast for ED Issued By Scotiabank

Consolidated Edison, Inc. (NYSE:ED) – Equities research analysts at Scotiabank issued their FY2024 earnings per share estimates for Consolidated Edison in a research report issued on Wednesday, January 8th. Scotiabank analyst A. Weisel anticipates that the utilities provider will earn $5.36 per share for the year. Scotiabank currently has a “Sector Perform” rating and a $100.00 target price 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.

ED has been the topic of a number of other reports. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Morgan Stanley reduced their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price objective for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. UBS Group upped their price objective on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Finally, Barclays reduced their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.64.

Consolidated Edison Trading Up 0.9 %

Shares of NYSE:ED opened at $89.28 on Monday. The company has a market cap of $30.93 billion, a P/E ratio of 16.81, a PEG ratio of 3.11 and a beta of 0.38. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison has a 1 year low of $85.85 and a 1 year high of $107.75. The stock’s fifty day moving average price is $93.72 and its 200-day moving average price is $97.90.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%.

Institutional Trading of Consolidated Edison

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Consolidated Edison during the third quarter worth about $776,000. Pathway Financial Advisers LLC grew its position in shares of Consolidated Edison by 10,302.6% during the third quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after purchasing an additional 24,211 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after purchasing an additional 82,985 shares in the last quarter. National Pension Service grew its position in shares of Consolidated Edison by 7.0% during the third quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock worth $48,792,000 after purchasing an additional 30,838 shares in the last quarter. Finally, Brophy Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the third quarter worth about $521,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Wednesday, November 13th. Consolidated Edison’s payout ratio is 62.52%.

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.