Consolidated Edison Given New $54.00 Price Target at UBS AG (ED)
UBS AG cut their target price on shares of Consolidated Edison (NYSE:ED) from $57.00 to $54.00 in a research note issued on Tuesday, Analyst Ratings.Net reports. The firm currently has a “neutral” rating on the stock. UBS AG’s price objective indicates a potential upside of 1.18% from the company’s current price.
ED has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. downgraded shares of Consolidated Edison from a “buy” rating to a “neutral” rating in a research note to investors on Friday. Separately, analysts at Jefferies Group cut their price target on shares of Consolidated Edison from $49.00 to $46.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group downgraded shares of Consolidated Edison from a “hold” rating to an “underperform” rating in a research note to investors on Thursday, November 21st. They now have a $49.00 price target on the stock, down previously from $60.00. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Consolidated Edison currently has an average rating of “Hold” and an average target price of $57.44.
Shares of Consolidated Edison (NYSE:ED) traded up 0.36% on Tuesday, hitting $53.56. 722,004 shares of the company’s stock traded hands. Consolidated Edison has a one year low of $52.85 and a one year high of $64.03. The stock has a 50-day moving average of $55.23 and a 200-day moving average of $56.88. The company has a market cap of $15.687 billion and a P/E ratio of 15.21.
Consolidated Edison (NYSE:ED) last announced its earnings results on Monday, November 4th. The company reported $1.48 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.42 by $0.06. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the company posted $1.44 earnings per share. Consolidated Edison’s revenue was up 1.3% 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.
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