Consolidated Edison PT Lowered to $58.00 (ED)
Research analysts at Jefferies Group decreased their target price on shares of Consolidated Edison (NYSE:ED) from $59.00 to $58.00 in a report released on Friday. Jefferies Group’s price target would suggest a potential upside of 1.93% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Barclays raised their price target on shares of Consolidated Edison from $59.00 to $60.00 in a research note on Friday. Separately, analysts at CRT Capital reiterated a “fairly valued” rating on shares of Consolidated Edison in a research note on Monday, July 21st. They now have a $58.00 price target on the stock, up previously from $57.00. Finally, 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $58.86.
Shares of Consolidated Edison (NYSE:ED) opened at 56.90 on Friday. Consolidated Edison has a one year low of $52.23 and a one year high of $60.76. The stock’s 50-day moving average is $56.62 and its 200-day moving average is $55.43. The company has a market cap of $16.666 billion and a price-to-earnings ratio of 13.21.
Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 7th. The company reported $0.65 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.54 by $0.11. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts predict that Consolidated Edison will post $3.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Monday, August 11th.
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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