Somewhat Positive Press Coverage Somewhat Unlikely to Impact Consolidated Edison (ED) Stock Price
Headlines about Consolidated Edison (NYSE:ED) have been trending somewhat positive on Sunday, Accern Sentiment Analysis reports. The research group ranks the sentiment of press coverage by reviewing more than twenty million news and blog sources. 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 gave media stories about the utilities provider an impact score of 46.7567727699431 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the media stories that may have impacted Accern’s analysis:
- Lazard Asset Management LLC Trims Stake in Consolidated Edison, Inc. (ED) (americanbankingnews.com)
- Here is Low Risky Stock That May Deliver Lower returns:: Consolidated Edison, Inc. (ED) – Wallstreet Investorplace (wallstreetinvestorplace.com)
- Consolidated Edison, Inc. (ED) Holdings Lowered by Brown Advisory Inc. (americanbankingnews.com)
- Amalgamated Bank Raises Holdings in Consolidated Edison, Inc. (ED) (americanbankingnews.com)
- Standard Life Aberdeen plc Sells 4,992 Shares of Consolidated Edison, Inc. (ED) (americanbankingnews.com)
A number of research analysts have issued reports on ED shares. Zacks Investment Research cut Consolidated Edison from a “buy” rating to a “hold” rating in a report on Friday, January 19th. UBS Group started coverage on Consolidated Edison in a report on Friday, February 2nd. They set a “neutral” rating and a $80.00 price objective for the company. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Morgan Stanley cut their price objective on Consolidated Edison from $80.00 to $74.00 and set an “underweight” rating for the company in a report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. started coverage on Consolidated Edison in a report on Friday, January 12th. They set an “underweight” rating and a $78.00 price objective for the company. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Consolidated Edison currently has a consensus rating of “Hold” and a consensus price target of $81.32.
Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.02. Consolidated Edison had a return on equity of 8.51% and a net margin of 12.67%. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the business posted $0.69 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. equities analysts forecast that Consolidated Edison will post 4.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 14th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.85%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. The ex-dividend date is Tuesday, February 13th. Consolidated Edison’s payout ratio is currently 13.03%.
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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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