Consolidated Edison (NYSE:ED) Issues FY 2021 Earnings Guidance

Consolidated Edison (NYSE:ED) updated its FY 2021 earnings guidance on Thursday. The company provided EPS guidance of $4.150-$4.350 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.250. The company issued revenue guidance of -.

A number of equities research analysts have recently commented on the stock. TheStreet raised shares of Consolidated Edison from a c+ rating to a b- rating in a report on Wednesday, October 20th. Mizuho cut their price target on shares of Consolidated Edison from $78.00 to $75.00 and set a neutral rating for the company in a report on Thursday, October 7th. Bank of America cut shares of Consolidated Edison from a neutral rating to an underperform rating and cut their price target for the stock from $74.00 to $68.00 in a report on Monday, October 18th. Morgan Stanley cut their price target on shares of Consolidated Edison from $76.00 to $74.00 and set an underweight rating for the company in a report on Friday, September 17th. Finally, KeyCorp cut their price target on shares of Consolidated Edison from $66.00 to $65.00 and set an underweight rating for the company in a report on Tuesday, October 19th. Six analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Sell and an average price target of $72.57.

Shares of ED stock traded up $0.05 during trading hours on Thursday, hitting $79.22. The company’s stock had a trading volume of 1,295,549 shares, compared to its average volume of 2,372,851. Consolidated Edison has a twelve month low of $65.56 and a twelve month high of $80.43. The business has a fifty day moving average of $75.53 and a 200-day moving average of $75.63. The stock has a market cap of $27.99 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 9.24 and a beta of 0.20. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 4th. The utilities provider reported $1.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.04). The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Consolidated Edison had a return on equity of 7.24% and a net margin of 8.81%. During the same period in the prior year, the business earned $1.48 EPS. On average, equities analysts expect that Consolidated Edison will post 4.22 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Wednesday, November 17th will be paid a $0.775 dividend. This represents a $3.10 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Tuesday, November 16th. Consolidated Edison’s dividend payout ratio is presently 92.54%.

About Consolidated Edison

Consolidated Edison, Inc operates as holding company, which through its subsidiaries engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc and Con Edison Transmission, Inc.

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

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