KeyCorp Comments on Consolidated Edison Inc.’s Q3 2016 Earnings (ED)
Consolidated Edison Inc. (NYSE:ED) – Research analysts at KeyCorp issued their Q3 2016 earnings per share estimates for shares of Consolidated Edison in a research report issued on Monday. KeyCorp analyst P. Ridzon anticipates that the brokerage will post earnings per share of $1.49 for the quarter. KeyCorp also issued estimates for Consolidated Edison’s FY2016 earnings at $3.95 EPS.
A number of other analysts have also recently commented on ED. BMO Capital Markets initiated coverage on shares of Consolidated Edison in a research report on Wednesday, June 22nd. They issued a “hold” rating and a $79.00 price objective for the company. Evercore ISI cut Consolidated Edison from a “hold” rating to a “sell” rating and increased their target price for the stock from $69.50 to $72.50 in a report on Wednesday, July 6th. Vetr upgraded Consolidated Edison from a “strong sell” rating to a “sell” rating and set a $70.50 target price for the company in a report on Tuesday, July 12th. Jefferies Group increased their target price on Consolidated Edison to $80.00 and gave the stock a “hold” rating in a report on Thursday, July 14th. Finally, Mizuho increased their target price on Consolidated Edison from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Consolidated Edison has a consensus rating of “Hold” and an average price target of $74.47.
Consolidated Edison (NYSE:ED) traded up 0.31% during trading on Wednesday, hitting $73.47. The company had a trading volume of 679,246 shares. The stock has a market capitalization of $22.37 billion, a PE ratio of 19.04 and a beta of 0.01. Consolidated Edison has a one year low of $60.30 and a one year high of $81.88. The stock has a 50-day moving average of $74.82 and a 200-day moving average of $76.08.
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Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by $0.09. Consolidated Edison had a return on equity of 8.88% and a net margin of 9.47%. During the same period last year, the firm posted $0.78 earnings per share.
Large investors have recently modified their holdings of the stock. Retirement Systems of Alabama increased its stake in shares of Consolidated Edison by 3.9% in the second quarter. Retirement Systems of Alabama now owns 155,065 shares of the company’s stock valued at $12,473,000 after buying an additional 5,864 shares during the period. Renaissance Technologies LLC increased its stake in shares of Consolidated Edison by 66.8% in the first quarter. Renaissance Technologies LLC now owns 825,300 shares of the company’s stock valued at $63,234,000 after buying an additional 330,600 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Consolidated Edison by 4.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,188,314 shares of the company’s stock valued at $95,585,000 after buying an additional 52,875 shares during the period. GW&K Investment Management LLC increased its stake in shares of Consolidated Edison by 6.5% in the second quarter. GW&K Investment Management LLC now owns 310,849 shares of the company’s stock valued at $25,005,000 after buying an additional 18,980 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Consolidated Edison by 45.6% in the first quarter. Royal Bank of Canada now owns 761,325 shares of the company’s stock valued at $58,333,000 after buying an additional 238,503 shares during the period. Institutional investors and hedge funds own 54.73% of the company’s stock.
About Consolidated Edison
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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).
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