Consolidated Edison Inc (NYSE:ED) is expected to report third quarter earnings results, after market close, on Thursday 5th November 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 1.50 per share.
Looking ahead, the full year income are expected at $ 4.23 per share on the revenues of $ 12809.70 million.
The Company Outlook
Full Year 2020 bottomline are predicted in a range of $ 4.15 ~ $ 4.35 per share
Click Here For More Historical Outlooks Of Consolidated Edison Inc
Previous Quarter Performance
Consolidated Edison Inc announced income for the second quarter of $ 0.60 per share, from the revenue of $ 2,719.00 million. The quarterly earnings improved 3.45 percent while revenues fell 0.91 percent compared with the same quarter last year.
According to street consensus, ED was expected to report 2Q20 income of $ 0.54 per share from revenue of $ 2816.71 million. The bottom line results beat street analysts by $ 0.06 or 11.11 percent, at the same time, top line results fell short of analysts by $ 97.71 million or 3.47 percent.
Stock Performance
Shares of Consolidated Edison Inc traded low $ -1.76 or -2.16 percent on Wednesday, reaching $ 79.56 with volume of 1.38 million shares. Consolidated Edison Inc has traded high as $ 82.28 and has cracked $ 79.54 on the downward trend
The closing price of $ 79.56, representing a 31.10 % increase from the 52 week low of $ 62.03 and a 14.49 % decrease over the 52 week high of $ 95.10.
The company has a market capital of $ 26.61 billion and is part of the Utilities sector and Utilities – Regulated Electric industry.
Recent Analyst recommendations
- On 5th October 2020, maintained by Morgan Stanley at Underweight rating, with $ 74.00 target price.
- On 18th September 2020, maintained by Morgan Stanley at Underweight rating, with $ 75.00 target price.
- On 14th September 2020, upgraded by Guggenheim to Neutral from Sell rating.
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. It also supplies electricity to approximately 0.3 million customers in southeastern New York, and northern New Jersey; and gas to approximately 0.1 million customers in southeastern New York.
