We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Consolidated Edison (ED) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
Consolidated Edison (ED - Free Report) closed at $99.27 in the latest trading session, marking a +0.8% move from the prior day. This move lagged the S&P 500's daily gain of 1.42%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Heading into today, shares of the utility had gained 3.55% over the past month, outpacing the Utilities sector's gain of 1.64% and lagging the S&P 500's gain of 6.69% in that time.
Wall Street will be looking for positivity from Consolidated Edison as it approaches its next earnings report date. This is expected to be August 4, 2022. On that day, Consolidated Edison is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 9.43%. Our most recent consensus estimate is calling for quarterly revenue of $3.14 billion, up 5.52% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.49 per share and revenue of $14.42 billion, which would represent changes of +2.28% and +5.46%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Consolidated Edison. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Consolidated Edison currently has a Zacks Rank of #3 (Hold).
Investors should also note Consolidated Edison's current valuation metrics, including its Forward P/E ratio of 21.96. For comparison, its industry has an average Forward P/E of 19.09, which means Consolidated Edison is trading at a premium to the group.
Also, we should mention that ED has a PEG ratio of 10.98. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Utility - Electric Power was holding an average PEG ratio of 3.22 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Consolidated Edison (ED) Gains But Lags Market: What You Should Know
Consolidated Edison (ED - Free Report) closed at $99.27 in the latest trading session, marking a +0.8% move from the prior day. This move lagged the S&P 500's daily gain of 1.42%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Heading into today, shares of the utility had gained 3.55% over the past month, outpacing the Utilities sector's gain of 1.64% and lagging the S&P 500's gain of 6.69% in that time.
Wall Street will be looking for positivity from Consolidated Edison as it approaches its next earnings report date. This is expected to be August 4, 2022. On that day, Consolidated Edison is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 9.43%. Our most recent consensus estimate is calling for quarterly revenue of $3.14 billion, up 5.52% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.49 per share and revenue of $14.42 billion, which would represent changes of +2.28% and +5.46%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Consolidated Edison. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Consolidated Edison currently has a Zacks Rank of #3 (Hold).
Investors should also note Consolidated Edison's current valuation metrics, including its Forward P/E ratio of 21.96. For comparison, its industry has an average Forward P/E of 19.09, which means Consolidated Edison is trading at a premium to the group.
Also, we should mention that ED has a PEG ratio of 10.98. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Utility - Electric Power was holding an average PEG ratio of 3.22 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.