Consolidated Edison (NYSE:ED) Releases FY 2020 After-Hours Earnings Guidance

Consolidated Edison (NYSE:ED) issued an update on its FY 2020
After-Hours earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 4.30-4.50 for the period, compared to the Thomson Reuters consensus estimate of $4.50. Consolidated Edison also updated its FY20 guidance to $4.30-4.50 EPS.

Shares of ED traded down $4.40 during trading hours on Friday, reaching $90.18. 3,976,881 shares of the stock traded hands, compared to its average volume of 1,459,583. The company has a current ratio of 0.58, a quick ratio of 0.52 and a debt-to-equity ratio of 1.01. The stock has a fifty day simple moving average of $91.61 and a 200 day simple moving average of $90.05. Consolidated Edison has a 52 week low of $80.42 and a 52 week high of $95.10. The company has a market cap of $31.44 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 10.53 and a beta of 0.05.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 19th will be given a dividend of $0.765 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.74. This represents a $3.06 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Tuesday, February 18th. Consolidated Edison’s dividend payout ratio (DPR) is presently 70.02%.

A number of research analysts recently weighed in on ED shares. Bank of America raised their price target on shares of Consolidated Edison from $92.00 to $94.00 and gave the company a neutral rating in a research report on Friday, December 20th. Barclays lowered shares of Consolidated Edison from an equal weight rating to an underweight rating and dropped their price target for the company from $95.00 to $88.00 in a research report on Wednesday, November 27th. KeyCorp dropped their price target on shares of Consolidated Edison from $100.00 to $92.00 and set an overweight rating on the stock in a research report on Friday, January 17th. Citigroup dropped their price target on shares of Consolidated Edison from $94.00 to $89.00 and set a neutral rating on the stock in a research report on Thursday, January 16th. Finally, UBS Group dropped their price target on shares of Consolidated Edison from $98.00 to $96.00 and set a neutral rating on the stock in a research report on Friday, December 20th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $92.44.

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 3.5 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.

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