Consolidated Edison (ED) Expected to Announce Quarterly Earnings on Thursday

Consolidated Edison (NYSE:ED) is expected to be issuing its quarterly earnings data after the market closes on Thursday, February 20th. Analysts expect the company to announce earnings of $0.97 per share and revenue of $3.63 billion for the quarter.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $95.70 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The stock has a fifty day moving average price of $91.84 and a 200 day moving average price of $98.10. Consolidated Edison has a 1-year low of $85.85 and a 1-year high of $107.75. The company has a market cap of $33.15 billion, a PE ratio of 18.02, a P/E/G ratio of 3.04 and a beta of 0.39.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.55%. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.03%.

Wall Street Analysts Forecast Growth

ED has been the subject of several recent research reports. Morgan Stanley decreased their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price objective for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Barclays cut their price objective on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Mizuho increased their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $100.70.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 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 1,530 customers in parts of Manhattan.