Consolidated Edison (ED) Issues FY18 Earnings Guidance

Consolidated Edison (NYSE:ED) issued an update on its FY18 earnings guidance on Thursday morning. The company provided EPS guidance of $4.25-4.35 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.26.

Shares of Consolidated Edison stock traded down $1.09 during trading on Friday, hitting $74.54. 3,467,989 shares of the stock were exchanged, compared to its average volume of 2,099,306. The firm has a market capitalization of $23.19 billion and a PE ratio of 17.18. Consolidated Edison has a 1-year low of $71.12 and a 1-year high of $89.70. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.63 and a quick ratio of 0.57.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 1st. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.17 billion. Consolidated Edison had a net margin of 12.60% and a return on equity of 8.68%. During the same period in the previous year, the business earned $1.47 EPS. As a group, analysts expect that Consolidated Edison will post 4.27 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Wednesday, November 14th will be paid a dividend of $0.715 per share. The ex-dividend date is Tuesday, November 13th. This represents a $2.86 annualized dividend and a dividend yield of 3.84%. Consolidated Edison’s dividend payout ratio is presently 69.93%.

ED has been the topic of a number of research reports. Citigroup upped their price target on shares of Consolidated Edison from $79.00 to $80.00 and gave the company a neutral rating in a research note on Tuesday, October 16th. Bank of America decreased their price target on shares of Consolidated Edison from $87.00 to $83.00 and set a buy rating on the stock in a research note on Friday. ValuEngine lowered shares of Consolidated Edison from a hold rating to a sell rating in a research note on Wednesday, September 26th. Zacks Investment Research upgraded shares of Consolidated Edison from a hold rating to a buy rating and set a $89.00 price target on the stock in a research note on Tuesday, August 7th. Finally, UBS Group upped their price target on shares of Consolidated Edison from $83.00 to $84.00 and gave the company a neutral rating in a research note on Friday, September 21st. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $77.60.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,600 customers in parts of Manhattan.

Read More: Return on Equity (ROE)

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