Research Analysts Offer Predictions for ED FY2024 Earnings

Consolidated Edison, Inc. (NYSE:ED) – Equities researchers at Zacks Research raised their FY2024 earnings estimates for Consolidated Edison in a research note issued on Thursday, November 28th. Zacks Research analyst R. Department now expects that the utilities provider will post earnings per share of $5.34 for the year, up from their prior forecast of $5.30. The consensus estimate for Consolidated Edison’s current full-year earnings is $5.34 per share. Zacks Research also issued estimates for Consolidated Edison’s Q4 2024 earnings at $0.92 EPS, Q1 2025 earnings at $2.07 EPS, Q2 2025 earnings at $0.51 EPS, Q3 2025 earnings at $1.77 EPS, Q4 2025 earnings at $1.26 EPS, FY2025 earnings at $5.61 EPS, Q2 2026 earnings at $0.91 EPS, Q3 2026 earnings at $1.82 EPS and FY2026 earnings at $5.96 EPS.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%.

ED has been the subject of several other research reports. Scotiabank raised their price objective on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. UBS Group increased their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Barclays reduced their target price on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group started coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective for the company. Finally, Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $99.13.

Consolidated Edison Stock Performance

Shares of ED stock opened at $100.59 on Monday. The firm has a market cap of $34.85 billion, a PE ratio of 18.94, a P/E/G ratio of 3.38 and a beta of 0.36. Consolidated Edison has a 12 month low of $85.85 and a 12 month high of $107.75. The company’s fifty day simple moving average is $101.75 and its 200-day simple moving average is $98.21. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Hedge Funds Weigh In On Consolidated Edison

A number of institutional investors have recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC grew its position in shares of Consolidated Edison by 10,302.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock valued at $2,546,000 after buying an additional 24,211 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of Consolidated Edison by 74.5% during the first quarter. Cetera Advisors LLC now owns 17,150 shares of the utilities provider’s stock valued at $1,557,000 after purchasing an additional 7,324 shares during the period. National Pension Service boosted its position in shares of Consolidated Edison by 7.0% during the 3rd quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock worth $48,792,000 after purchasing an additional 30,838 shares in the last quarter. Czech National Bank grew its stake in shares of Consolidated Edison by 8.5% in the 2nd quarter. Czech National Bank now owns 65,902 shares of the utilities provider’s stock valued at $5,893,000 after buying an additional 5,161 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Consolidated Edison by 12.1% in the second quarter. Parallel Advisors LLC now owns 8,032 shares of the utilities provider’s stock worth $718,000 after acquiring an additional 869 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s payout ratio is 62.52%.

About Consolidated Edison

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.