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

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

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the firm posted $0.81 EPS. Consolidated Edison’s revenue for the quarter was down 14.6% compared to the same quarter last year. 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 opened at $93.97 on Tuesday. Consolidated Edison has a 12-month low of $80.46 and a 12-month high of $100.44. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $32.47 billion, a PE ratio of 13.09, a P/E/G ratio of 8.75 and a beta of 0.35. The firm has a 50 day moving average of $89.65 and a two-hundred day moving average of $89.97.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is 46.24%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ED shares. LADENBURG THALM/SH SH started coverage on shares of Consolidated Edison in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price target on the stock. Scotiabank dropped their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research note on Monday, April 22nd. Royal Bank of Canada dropped their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. Barclays lifted their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Finally, KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and a consensus target price of $87.54.

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.