Equities research analysts expect that Consolidated Edison, Inc. (NYSE:ED) will post earnings of $0.75 per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Consolidated Edison’s earnings. The highest EPS estimate is $0.78 and the lowest is $0.72. Consolidated Edison posted earnings per share of $0.69 in the same quarter last year, which suggests a positive year-over-year growth rate of 8.7%. The business is expected to announce its next earnings report on Thursday, February 15th.

According to Zacks, analysts expect that Consolidated Edison will report full-year earnings of $4.08 per share for the current year, with EPS estimates ranging from $4.04 to $4.10. For the next year, analysts anticipate that the business will post earnings of $4.26 per share, with EPS estimates ranging from $4.25 to $4.29. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Consolidated Edison.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.07). Consolidated Edison had a return on equity of 8.42% and a net margin of 10.42%. The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the business earned $1.51 EPS.

A number of analysts recently weighed in on ED shares. BidaskClub raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Jefferies Group reaffirmed a “hold” rating and issued a $83.50 price objective on shares of Consolidated Edison in a report on Thursday, August 31st. Morgan Stanley increased their price objective on shares of Consolidated Edison from $78.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Monday, September 11th. Finally, Evercore ISI cut shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 target price on the stock. in a research note on Tuesday, September 26th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $80.32.

Institutional investors and hedge funds have recently made changes to their positions in the company. WFG Advisors LP grew its stake in shares of Consolidated Edison by 19.6% in the 2nd quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 214 shares during the last quarter. AllSquare Wealth Management LLC acquired a new position in shares of Consolidated Edison in the third quarter worth about $113,000. Dupont Capital Management Corp acquired a new position in shares of Consolidated Edison in the second quarter worth about $191,000. RFG Advisory Group LLC acquired a new position in shares of Consolidated Edison in the second quarter worth about $204,000. Finally, Exencial Wealth Advisors LLC acquired a new position in shares of Consolidated Edison in the second quarter worth about $204,000. 55.69% of the stock is currently owned by institutional investors.

Consolidated Edison (NYSE:ED) traded up $0.65 during mid-day trading on Friday, hitting $88.24. 3,352,147 shares of the company were exchanged, compared to its average volume of 1,527,858. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.79. Consolidated Edison has a 1-year low of $71.79 and a 1-year high of $89.70. The firm has a market cap of $27,360.00, a PE ratio of 21.94, a PEG ratio of 7.17 and a beta of 0.10.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.69 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.76 annualized dividend and a yield of 3.13%. Consolidated Edison’s payout ratio is 69.17%.

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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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