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%.
WARNING: This report was first published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this report on another domain, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this report can be accessed at https://www.com-unik.info/2017/11/04/consolidated-edison-inc-ed-posts-quarterly-earnings-results.html.
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).
What are top analysts saying about Consolidated Edison Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Consolidated Edison Inc and related companies.