Q3 2022 EPS Estimates for Consolidated Edison, Inc. (NYSE:ED) Increased by KeyCorp

Consolidated Edison, Inc. (NYSE:EDGet Rating) – Research analysts at KeyCorp raised their Q3 2022 EPS estimates for shares of Consolidated Edison in a research note issued to investors on Sunday, May 22nd. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings per share of $1.48 for the quarter, up from their prior estimate of $1.46. KeyCorp has a “Underweight” rating and a $72.00 price objective on the stock. KeyCorp also issued estimates for Consolidated Edison’s Q4 2022 earnings at $0.96 EPS, FY2023 earnings at $4.79 EPS, FY2024 earnings at $5.06 EPS, FY2025 earnings at $5.25 EPS and FY2026 earnings at $5.55 EPS.

Several other analysts also recently issued reports on the company. Royal Bank of Canada raised their price target on Consolidated Edison from $88.00 to $89.00 and gave the stock a “sector perform” rating in a report on Monday, March 28th. The Goldman Sachs Group raised their price target on Consolidated Edison from $65.00 to $83.00 and gave the stock a “sell” rating in a report on Thursday, March 31st. Morgan Stanley cut their price target on Consolidated Edison from $82.00 to $80.00 and set an “underweight” rating on the stock in a report on Monday. Wolfe Research raised Consolidated Edison from an “underperform” rating to a “peer perform” rating and set a $82.00 price target on the stock in a report on Thursday, February 17th. Finally, Guggenheim upgraded Consolidated Edison from a “sell” rating to a “neutral” rating and set a $94.00 target price on the stock in a research report on Monday. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and an average target price of $84.58.

Shares of NYSE ED opened at $97.68 on Tuesday. The company has a market cap of $34.61 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 10.57 and a beta of 0.23. Consolidated Edison has a 12-month low of $71.17 and a 12-month high of $99.22. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.10. The stock’s 50 day simple moving average is $94.55 and its 200 day simple moving average is $87.27.

Consolidated Edison (NYSE:EDGet Rating) last released its earnings results on Thursday, May 5th. The utilities provider reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.04). Consolidated Edison had a return on equity of 7.66% and a net margin of 10.88%. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the business earned $1.43 EPS.

Hedge funds have recently modified their holdings of the company. DB Fitzpatrick & Co Inc bought a new stake in shares of Consolidated Edison during the 4th quarter worth $25,000. Shore Point Advisors LLC bought a new stake in shares of Consolidated Edison during the 4th quarter worth $26,000. Godsey & Gibb Associates bought a new stake in shares of Consolidated Edison during the 4th quarter worth $26,000. Tyler Stone Wealth Management bought a new stake in shares of Consolidated Edison during the 4th quarter worth $26,000. Finally, CVA Family Office LLC bought a new stake in shares of Consolidated Edison during the 4th quarter worth $28,000. Institutional investors own 65.73% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, May 18th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Tuesday, May 17th. Consolidated Edison’s dividend payout ratio (DPR) is presently 72.98%.

Consolidated Edison Company Profile (Get Rating)

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 3.5 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 1,555 customers in parts of Manhattan.

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

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