Consolidated Edison Sees Unusually High Options Volume (ED)
Consolidated Edison (NYSE:ED) saw unusually large options trading on Monday. Stock traders acquired 8,074 put options on the company, American Banking and Market News reports. This is an increase of approximately 1,352% compared to the average volume of 556 put options.
A number of analysts have recently weighed in on ED shares. Analysts at Zacks reiterated a “neutral” rating on shares of Consolidated Edison in a research note on Monday, June 9th. They now have a $58.00 price target on the stock. Separately, analysts at Ned Davis Research upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating in a research note on Monday, May 12th. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Consolidated Edison in a research note on Monday, May 12th. They now have a $59.00 price target on the stock, down previously from $61.00. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $58.13.
Consolidated Edison (NYSE:ED) traded up 0.33% during mid-day trading on Monday, hitting $57.74. 1,971,408 shares of the company’s stock traded hands. Consolidated Edison has a 52 week low of $52.23 and a 52 week high of $60.85. The stock’s 50-day moving average is $55.37 and its 200-day moving average is $55.00. The company has a market cap of $16.912 billion and a price-to-earnings ratio of 13.74.
Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 8th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. Analysts expect that Consolidated Edison will post $3.75 EPS 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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