Consolidated Edison, Inc. (NYSE:ED) to Post Q2 2019 Earnings of $0.60 Per Share, KeyCorp Forecasts

Consolidated Edison, Inc. (NYSE:ED) – Research analysts at KeyCorp issued their Q2 2019 EPS estimates for shares of Consolidated Edison in a research note issued on Thursday, July 18th. KeyCorp analyst S. Karp expects that the utilities provider will post earnings per share of $0.60 for the quarter. KeyCorp currently has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for Consolidated Edison’s Q3 2019 earnings at $1.65 EPS, Q4 2019 earnings at $0.75 EPS and FY2019 earnings at $4.38 EPS.

A number of other equities analysts also recently commented on ED. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Bank of America set a $275.00 price objective on shares of SVB Financial Group and gave the stock a “buy” rating in a report on Friday, April 26th. Credit Suisse Group set a $199.00 price objective on shares of NextEra Energy and gave the stock a “buy” rating in a report on Monday, April 22nd. Barclays reaffirmed a “hold” rating and set a $14.00 price objective on shares of MACOM Technology Solutions in a report on Thursday, June 20th. Finally, Morgan Stanley set a $18.00 price objective on shares of PG&E and gave the stock a “hold” rating in a report on Friday, June 14th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Consolidated Edison presently has an average rating of “Hold” and a consensus target price of $79.84.

NYSE:ED opened at $87.24 on Friday. The stock’s 50-day simple moving average is $88.19. The company has a market cap of $28.90 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 10.16 and a beta of 0.12. Consolidated Edison has a 52 week low of $73.29 and a 52 week high of $90.51. The company has a quick ratio of 0.54, a current ratio of 0.60 and a debt-to-equity ratio of 1.01.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.39 billion. Consolidated Edison had a net margin of 11.03% and a return on equity of 8.31%. During the same period last year, the firm earned $1.38 EPS.

A number of hedge funds have recently made changes to their positions in ED. Marino Stram & Associates LLC increased its position in Consolidated Edison by 19.3% in the 2nd quarter. Marino Stram & Associates LLC now owns 9,578 shares of the utilities provider’s stock valued at $840,000 after acquiring an additional 1,552 shares in the last quarter. Cerebellum GP LLC acquired a new stake in Consolidated Edison in the 2nd quarter valued at about $345,000. Commonwealth Equity Services LLC increased its position in Consolidated Edison by 0.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 437,539 shares of the utilities provider’s stock valued at $38,363,000 after acquiring an additional 1,280 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Consolidated Edison by 32.1% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,703 shares of the utilities provider’s stock worth $325,000 after buying an additional 900 shares during the period. Finally, NuWave Investment Management LLC grew its position in shares of Consolidated Edison by 7,353.8% during the 2nd quarter. NuWave Investment Management LLC now owns 969 shares of the utilities provider’s stock worth $85,000 after buying an additional 956 shares during the period. 59.41% of the stock is owned by hedge funds and other institutional investors.

About Consolidated Edison

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 3.5 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 1,622 customers in parts of Manhattan.

Featured Article: Mutual Funds

Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.