Consolidated Edison Stock Rating Upgraded by Goldman Sachs Group Inc. (ED)
Consolidated Edison (NYSE:ED) was upgraded by equities research analysts at Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on ED. Analysts at Jefferies Group downgraded shares of Consolidated Edison (NYSE:ED) from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, September 11th. They now have a $58.00 price target on the stock, down previously from $67.00. Separately, analysts at Barclays Capital cut their price target on shares of Consolidated Edison (NYSE:ED) from $63.00 to $62.00 in a research note to investors on Tuesday, August 6th.
Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Consolidated Edison presently has an average rating of “Hold” and a consensus target price of $60.00.
Consolidated Edison (NYSE:ED) traded down 0.02% during mid-day trading on Wednesday, hitting $55.27. 312,810 shares of the company’s stock traded hands. Consolidated Edison has a 1-year low of $53.63 and a 1-year high of $64.03. The stock has a 50-day moving average of $57.31 and a 200-day moving average of $59.07. The company has a market cap of $16.187 billion and a P/E ratio of 16.12.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.57 by $0.02. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the company posted $0.73 earnings per share. Consolidated Edison’s revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Consolidated Edison will post $3.75 earnings per share for the current fiscal year.
Consolidated Edison, Inc (NYSE:ED) is a holding company, which owns Consolidated Edison Company of New York, Inc (CECONY), which delivers electricity, natural gas and steam to customers in New York City and Westchester County; Orange and Rockland Utilities, Inc (O&R) (together with CECONY referred to as the Utilities), which delivers electricity and natural gas to customers primarily located in southeastern New York, and northern New Jersey and northeastern Pennsylvania, and competitive energy businesses, which provide retail and wholesale electricity supply and energy services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.