Consolidated Edison (NYSE:ED – Get Free Report) issued its quarterly earnings results on Thursday. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02, Briefing.com reports. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.70%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business posted $0.61 EPS. Consolidated Edison updated its FY 2024 guidance to 5.200-5.400 EPS.
Consolidated Edison Price Performance
Consolidated Edison stock opened at $102.01 on Monday. The company’s 50 day simple moving average is $92.36 and its 200-day simple moving average is $91.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99. Consolidated Edison has a 1 year low of $80.46 and a 1 year high of $105.99. The company has a market capitalization of $35.28 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 2.56 and a beta of 0.34.
Consolidated Edison Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Wednesday, August 14th. Consolidated Edison’s payout ratio is 63.72%.
Analyst Ratings Changes
Get Our Latest Stock Analysis on Consolidated Edison
Consolidated Edison Company Profile
Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.
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