Consolidated Edison, Inc. [ED] stock is trading at $89.85, up 0.97%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The ED shares have gain 3.69% over the last week, with a monthly amount glided 0.20%, and seem to be holding up well over a long-time horizon.
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On 15, February 2024, CON EDISON REPORTS 2023 EARNINGS. In a post published today on Yahoo Finance, Consolidated Edison, Inc. (Con Edison) (NYSE: ED) today reported 2023 net income for common stock of $2,519 million or $7.25 a share compared with $1,660 million or $4.68 a share in 2022. Adjusted earnings (non-GAAP) were $1,762 million or $5.07 a share in the 2023 period compared with $1,620 million or $4.57 a share in 2022. Adjusted earnings and adjusted earnings per share in the 2023 and 2022 periods exclude the effects of hypothetical liquidation at book value (HLBV) accounting for tax equity investments, the gain and other impacts related to the sale of its former subsidiary, Con Edison Clean Energy Businesses, Inc. (the Clean Energy Businesses), the net mark-to-market effects of the Clean Energy Businesses and the related tax impacts on the parent company. Adjusted earnings and adjusted earnings per share in the 2022 period exclude the impact on the remeasurement of deferred state income taxes related to dispositions prior to 2022.
From an analyst’s perspective:
Consolidated Edison, Inc. [NYSE: ED] stock has seen the most recent analyst activity on January 04, 2024, when KeyBanc Capital Markets upgraded its rating to a Sector Weight. Previously, Ladenburg Thalmann started tracking the stock with Neutral rating on January 03, 2024, and set its price target to $92.50. On October 17, 2023, upgrade upgraded it’s rating to Equal Weight and revised its price target to $94 on the stock. Barclays started tracking the stock assigning a Equal Weight rating and suggested a price target of $88 on August 23, 2023. BofA Securities upgraded its rating to a Buy and raised its price target to $103 on July 21, 2023. Goldman started tracking with a Sell rating for this stock on June 08, 2023, and assigned it a price target of $88. In a note dated March 22, 2023, Argus upgraded an Buy rating on this stock but restated the target price of $104.
Consolidated Edison, Inc. [ED] stock has fluctuated between $80.46 and $100.92 over the past year. Currently, Wall Street analysts expect the stock to reach $77.7 within the next 12 months. Consolidated Edison, Inc. [NYSE: ED] shares were valued at $89.85 at the most recent close of the market. An investor can expect a potential drop of -13.52% based on the average ED price forecast.
Analyzing the ED fundamentals
Consolidated Edison, Inc. [NYSE:ED] reported sales of 14.64B for the trailing twelve months, which represents a drop of -14.09%. Gross Profit Margin for this corporation currently stands at 0.51% with Operating Profit Margin at 0.17%, Pretax Profit Margin comes in at 0.2%, and Net Profit Margin reading is 0.17%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.13 and Total Capital is 0.04. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.18.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 89.43 points at the first support level, and at 89.02 for the second support level. However, for the 1st resistance point, the stock is sitting at 90.27, and for the 2nd resistance point, it is at 90.69.
Consolidated Edison, Inc. [ED] reported earnings per share of $1 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.96/share, meaning a difference of $0.04 and a surprise factor of 4.20%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.62 per share as compared to estimates of $1.6 per share, a difference of $0.02 representing a surprise of 1.30%.
Ratios To Look Out For
For context, Consolidated Edison, Inc.’s Current Ratio is 1.01. In addition, the Quick Ratio stands at 0.94 and the Cash Ratio stands at 0.18. Considering the valuation of this stock, the price to sales ratio is 2.12, the price to book ratio is 1.47 and price to earnings (TTM) ratio is 12.51.
Transactions by insiders
Recent insider trading involved Cawley Timothy, Chairman, President & CEO, that happened on Jan 31 ’24 when 25.0 shares were purchased. SVP & CFO, HOGLUND ROBERT N completed a deal on Jan 31 ’24 to buy 25.0 shares. Meanwhile, SVP and General Counsel Donnley Deneen L bought 25.0 shares on Jan 31 ’24.
