Equities analysts expect Consolidated Edison Inc (NYSE:ED) to report earnings per share of $1.44 for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Consolidated Edison’s earnings. Consolidated Edison posted earnings per share of $1.50 during the same quarter last year, which would indicate a negative year over year growth rate of 4%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Consolidated Edison will report full-year earnings of $4.07 per share for the current year, with EPS estimates ranging from $4.00 to $4.10. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.24 per share, with EPS estimates ranging from $4.20 to $4.26. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Consolidated Edison.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.03. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.79 billion. Consolidated Edison had a return on equity of 8.61% and a net margin of 10.57%. During the same quarter in the prior year, the company posted $0.60 earnings per share.

Several equities research analysts have commented on the stock. BidaskClub upgraded shares of Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research lowered shares of Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Jefferies Group LLC lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating and decreased their target price for the stock from $88.00 to $83.50 in a research report on Tuesday, June 13th. Six analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $76.82.

Consolidated Edison (ED) traded down 0.38% during trading on Friday, reaching $82.80. 1,396,138 shares of the company’s stock were exchanged. The firm has a market capitalization of $25.29 billion, a price-to-earnings ratio of 19.07 and a beta of 0.08. The stock has a 50-day moving average price of $82.24 and a 200 day moving average price of $78.85. Consolidated Edison has a 52 week low of $68.76 and a 52 week high of $85.13.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 16th will be given a $0.69 dividend. The ex-dividend date is Monday, August 14th. This represents a $2.76 annualized dividend and a dividend yield of 3.33%. Consolidated Edison’s dividend payout ratio is presently 66.67%.

In other Consolidated Edison news, Director Linda S. Sanford acquired 900 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average cost of $79.74 per share, for a total transaction of $71,766.00. Following the transaction, the director now directly owns 8,748 shares of the company’s stock, valued at $697,565.52. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 1,319 shares of company stock worth $106,510 over the last quarter. Insiders own 0.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in Consolidated Edison by 3.8% in the first quarter. Ameriprise Financial Inc. now owns 215,980 shares of the utilities provider’s stock valued at $16,770,000 after buying an additional 8,002 shares in the last quarter. Rockland Trust Co. raised its stake in Consolidated Edison by 3.3% in the first quarter. Rockland Trust Co. now owns 55,856 shares of the utilities provider’s stock valued at $4,338,000 after buying an additional 1,799 shares in the last quarter. Dai Ichi Life Insurance Company Ltd raised its stake in Consolidated Edison by 16.4% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 63,364 shares of the utilities provider’s stock valued at $4,921,000 after buying an additional 8,918 shares in the last quarter. Washington Trust Bank raised its stake in Consolidated Edison by 272.4% in the first quarter. Washington Trust Bank now owns 3,352 shares of the utilities provider’s stock valued at $260,000 after buying an additional 2,452 shares in the last quarter. Finally, Financial Counselors Inc. raised its stake in Consolidated Edison by 46.1% in the first quarter. Financial Counselors Inc. now owns 4,658 shares of the utilities provider’s stock valued at $362,000 after buying an additional 1,469 shares in the last quarter. Institutional investors and hedge funds own 55.82% of the company’s stock.

TRADEMARK VIOLATION WARNING: “$1.44 Earnings Per Share Expected for Consolidated Edison Inc (ED) This Quarter” was first reported by American Banking News and is owned by of American Banking News. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/08/06/1-44-earnings-per-share-expected-for-consolidated-edison-inc-ed-this-quarter.html.

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), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

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Earnings History and Estimates for Consolidated Edison (NYSE:ED)

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