Consolidated Edison (ED) Getting Somewhat Positive News Coverage, Analysis Shows
Press coverage about Consolidated Edison (NYSE:ED) has been trending somewhat positive recently, according to Accern. The research group ranks the sentiment of media coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Consolidated Edison earned a news impact score of 0.13 on Accern’s scale. Accern also gave media stories about the utilities provider an impact score of 46.3681293961509 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the news articles that may have impacted Accern Sentiment Analysis’s rankings:
- FERC Approves Plan to Address Congestion Management Between NYISO and PJM (lexology.com)
- Con Edison to Report 3rd Quarter 2017 Earnings on November 2 (feeds.benzinga.com)
- Marcellus-to-Southeast ACP, MVP Projects Get FERC OK; LaFleur Dissents (naturalgasintel.com)
- ETFs with exposure to Consolidated Edison, Inc. : October 16, 2017 (finance.yahoo.com)
- Adirondack Trust Co Buys Arrow Financial Corp, Consolidated Edison Inc, Ambev SA, Sells EI … – Nasdaq (nasdaq.com)
Shares of Consolidated Edison (NYSE:ED) opened at 83.78 on Thursday. The stock has a 50 day moving average price of $82.98 and a 200-day moving average price of $81.86. The company has a market capitalization of $25.61 billion, a PE ratio of 20.27 and a beta of 0.09. Consolidated Edison has a 12 month low of $68.76 and a 12 month high of $86.16.
Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.03). Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the prior year, the business posted $0.60 earnings per share. Analysts forecast that Consolidated Edison will post $4.09 EPS for the current year.
Several research firms have weighed in on ED. Zacks Investment Research cut Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Evercore ISI cut Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price objective on the stock. in a research report on Tuesday, September 26th. Morgan Stanley lifted their price objective on Consolidated Edison from $78.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, September 8th. Jefferies Group LLC reaffirmed a “hold” rating and set a $83.50 price objective on shares of Consolidated Edison in a research report on Thursday, August 31st. Finally, BidaskClub raised Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.77.
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In other 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 transaction of $160,023.96. Following the transaction, the chief executive officer now directly owns 24,017 shares in the company, valued at $2,014,305.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have bought 158 shares of company stock worth $13,022. Insiders own 0.20% of the company’s stock.
About Consolidated Edison
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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