Consolidated Edison Inc. (NYSE: ED) has reported earnings for its first fiscal quarter (ending March 31) of $2.08 versus $4.06 for the same period a year ago — a decline of -49%. However, this result exceeded the consensus estimate of $1.84 by $0.24. For the latest four quarters through March 31, E.P.S. were $5.23 versus $7.04 for the same period a year ago — a decline of -26%.
Recent Price Action
Consolidated Edison Inc. (NYSE: ED) stock closed at $95.25 on 5/2/24 after a modest gain of 0.5%. NORMAL trading volume accompanied the advance. The stock has risen 1.9% during the last week and has performed in line with the market over the last nine months.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, ED is expected to continue to be a Value Builder.
Consolidated Edison has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Consolidated Edison has a good Appreciation Score of 71 but a neutral Power Rating of 48, resulting in the High Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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