Consolidated Edison Inc (NYSE:ED) Set to Announce Quarterly Earnings on Thursday
Consolidated Edison Inc (NYSE:ED) is set to issue its quarterly earnings data after the market closes on Thursday, August 3rd. Analysts expect the company to announce earnings of $0.61 per share for the quarter. Consolidated Edison has set its FY17 guidance at $3.95 to $4.15 EPS.
Consolidated Edison (NYSE:ED) last issued 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. Consolidated Edison had a return on equity of 9.05% and a net margin of 10.90%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the company earned $1.18 EPS. On average, analysts expect Consolidated Edison to post $4.06 EPS for the current fiscal year and $4.23 EPS for the next fiscal year.
Shares of Consolidated Edison Inc (NYSE:ED) traded down 0.30% during midday trading on Thursday, hitting $81.86. The stock had a trading volume of 209,319 shares. The company has a market cap of $25.00 billion, a P/E ratio of 18.85 and a beta of 0.08. The stock has a 50 day moving average of $82.33 and a 200-day moving average of $78.54. Consolidated Edison Inc has a one year low of $68.76 and a one year high of $85.13.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s dividend payout ratio is presently 63.59%.
Several equities research analysts have recently weighed in on the company. BidaskClub raised Consolidated Edison from a “sell” rating to a “hold” rating in a research note on Monday. Zacks Investment Research lowered Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, Jefferies Group LLC lowered Consolidated Edison from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $88.00 to $83.50 in a research note on Tuesday, June 13th. Six analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Consolidated Edison has a consensus rating of “Hold” and an average target price of $76.82.
In related news, Director Linda S. Sanford bought 900 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were bought at an average cost of $79.74 per share, for a total transaction of $71,766.00. Following the completion of the acquisition, the director now directly owns 8,748 shares in the company, valued at $697,565.52. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have purchased 1,240 shares of company stock valued at $100,090. 0.20% of the stock is owned by corporate insiders.
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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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