Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Consolidated Edison (ED) Stock Price
Press coverage about Consolidated Edison (NYSE:ED) has trended somewhat positive this week, Accern reports. The research firm rates the sentiment of news coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Consolidated Edison earned a daily sentiment score of 0.16 on Accern’s scale. Accern also assigned media stories about the utilities provider an impact score of 46.2039630186465 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the news stories that may have impacted Accern Sentiment’s rankings:
- S&P 500 Dividend Aristocrats Gains Led By Walgreens, AT&T, And Federal (seekingalpha.com)
- ETFs with exposure to Consolidated Edison, Inc. : October 30, 2017 (finance.yahoo.com)
- Quant Score Makes Consolidated Edison (ED) a Buy – Investorplace.com (investorplace.com)
- Consolidated Edison Inc (ED) Scheduled to Post Earnings on Thursday (americanbankingnews.com)
- South River man gets year in prison for scheme involving lumber company (centraljersey.com)
Several research analysts have weighed in on ED shares. Zacks Investment Research downgraded Consolidated Edison from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub downgraded Consolidated Edison from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Morgan Stanley boosted their price target on Consolidated Edison from $75.00 to $78.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $83.50 price target on shares of Consolidated Edison in a report on Thursday, August 31st. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $78.96.
Shares of Consolidated Edison (NYSE ED) opened at 85.90 on Tuesday. The stock’s 50 day moving average is $83.24 and its 200 day moving average is $82.30. Consolidated Edison has a 52 week low of $68.76 and a 52 week high of $86.33. The stock has a market capitalization of $26.26 billion, a PE ratio of 20.78 and a beta of 0.09.
Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.03). Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the company earned $0.60 EPS. Analysts anticipate that Consolidated Edison will post $4.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a $0.69 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.76 dividend on an annualized basis and a yield of 3.21%. Consolidated Edison’s payout ratio is 66.67%.
In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total value of $160,023.96. Following the completion of the sale, the chief executive officer now owns 24,017 shares in the company, valued at approximately $2,014,305.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders acquired 79 shares of company stock valued at $6,602. Insiders own 0.20% of the company’s stock.
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Consolidated Edison Company Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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