Consolidated Edison Inc to Post Q2 2017 Earnings of $0.63 Per Share, KeyCorp Forecasts (ED)
Consolidated Edison Inc (NYSE:ED) – Stock analysts at KeyCorp issued their Q2 2017 EPS estimates for shares of Consolidated Edison in a research note issued on Monday. KeyCorp analyst P. Ridzon expects that the utilities provider will earn $0.63 per share for the quarter. KeyCorp also issued estimates for Consolidated Edison’s FY2018 earnings at $4.25 EPS.
Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, May 4th. The utilities provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.08. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.05 billion. Consolidated Edison had a net margin of 10.90% and a return on equity of 9.05%. During the same period last year, the firm posted $1.18 earnings per share.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research note on Thursday, May 18th. BidaskClub cut shares of Consolidated Edison from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Barclays PLC reaffirmed an “equal weight” rating and set a $82.00 price target (up from $76.00) on shares of Consolidated Edison in a research note on Sunday, April 23rd. BMO Capital Markets reaffirmed a “hold” rating and set a $80.00 price target on shares of Consolidated Edison in a research note on Monday, May 15th. Finally, Deutsche Bank AG raised their price target on shares of Consolidated Edison from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Six equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $76.82.
Consolidated Edison (NYSE ED) opened at 81.51 on Wednesday. The stock has a market capitalization of $24.89 billion, a P/E ratio of 18.77 and a beta of 0.08. Consolidated Edison has a 52-week low of $68.76 and a 52-week high of $85.13. The stock has a 50 day moving average of $82.40 and a 200 day moving average of $78.45.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s dividend payout ratio is 63.59%.
In other Consolidated Edison news, Director Linda S. Sanford purchased 900 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average price of $79.74 per share, with a total value of $71,766.00. Following the acquisition, the director now directly owns 8,748 shares of the company’s stock, valued at approximately $697,565.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 1,240 shares of company stock valued at $100,090 in the last ninety days. Insiders own 0.20% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Stuart Chaussee & Associates Inc. boosted its position in Consolidated Edison by 138.3% in the first quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock valued at $106,000 after buying an additional 795 shares during the last quarter. Tompkins Financial Corp purchased a new position in Consolidated Edison during the first quarter valued at $118,000. Enterprise Financial Services Corp boosted its position in Consolidated Edison by 2.5% in the first quarter. Enterprise Financial Services Corp now owns 1,555 shares of the utilities provider’s stock valued at $121,000 after buying an additional 38 shares during the last quarter. Cypress Capital Management LLC WY boosted its position in Consolidated Edison by 491.7% in the second quarter. Cypress Capital Management LLC WY now owns 1,775 shares of the utilities provider’s stock valued at $143,000 after buying an additional 1,475 shares during the last quarter. Finally, Atwood & Palmer Inc. boosted its position in Consolidated Edison by 195.8% in the first quarter. Atwood & Palmer Inc. now owns 1,813 shares of the utilities provider’s stock valued at $141,000 after buying an additional 1,200 shares during the last quarter. 55.90% of the stock is owned by institutional investors and hedge funds.
Consolidated Edison Company Profile
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), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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