Consolidated Edison Inc (ED) Posts Quarterly Earnings Results

Consolidated Edison Inc (NYSE:ED) released its quarterly earnings data on Thursday. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.07), Bloomberg Earnings reports. Consolidated Edison had a net margin of 10.42% and a return on equity of 8.52%. The company had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the firm posted $1.51 earnings per share.

Shares of Consolidated Edison (ED) traded up $1.24 during mid-day trading on Friday, reaching $87.04. The company had a trading volume of 1,629,418 shares, compared to its average volume of 1,428,493. The stock has a market cap of $26,988.41, a PE ratio of 21.71, a PEG ratio of 7.11 and a beta of 0.10. Consolidated Edison has a 52 week low of $68.76 and a 52 week high of $87.58. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.76 and a quick ratio of 0.68.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Tuesday, November 14th. Consolidated Edison’s payout ratio is currently 69.00%.

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In related news, CEO Joseph P. Oates sold 1,908 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $83.87, for a total transaction of $160,023.96. Following the completion of the sale, the chief executive officer now directly owns 24,017 shares in the company, valued at approximately $2,014,305.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased a total of 79 shares of company stock valued at $6,602 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

A number of analysts recently issued reports on the company. BidaskClub upgraded Consolidated Edison from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Evercore ISI lowered Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price objective on the stock. in a research note on Tuesday, September 26th. Zacks Investment Research lowered Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Morgan Stanley boosted their price objective on Consolidated Edison from $75.00 to $78.00 and gave the company an “underweight” rating in a research note on Thursday, August 10th. Finally, Bank of America Corporation assumed coverage on Consolidated Edison in a research note on Tuesday, October 24th. They set a “buy” rating and a $92.00 price objective on the stock. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $78.96.

Consolidated Edison Company Profile

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

Earnings History for Consolidated Edison (NYSE:ED)

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