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) Q1 Earnings: What's in the Cards?
Read MoreHide Full Article
Consolidated Edison, Inc. (ED - Free Report) will report first-quarter 2018 results after the market closes on May 3.
In the last reported quarter, the company delivered a positive surprise of 2.56%. However, Consolidated Edison lagged the Zacks Consensus Estimate in two of the past four quarters, with an average miss of 0.05%.
Let’s see how things are shaping up for this earnings season.
Of late, Consolidated Edison has been incorporating renewable energy in its grid at an increasing rate. As a result, its fourth-quarter 2017 results reflected higher revenues from renewable electric production projects. We expect the company’s first-quarter results to reflect the same.
Weather pattern tends to influence quarterly results of utility providers. During the first quarter, Consolidated Edison’s service territories witnessed fluctuating weather, which might impact its revenues.
The company’s regulated based utilities offer it with a stable earnings base. In line with this, the Zacks Consensus Estimate for the company’s first-quarter earnings of $1.33 reflects an improvement of 4.7% year over year.
In January 2018, the company announced a dividend hike of 10%, reflecting the 44th consecutive annual dividend rise. Such dividend hikes hint at a solid cash flow reserve for the company, which we expect to get reflected in the to-be-reported results.
Earnings Whisper
Our proven model shows that Consolidated Edison is unlikely to beat earnings this quarter. Notably, a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is not the case here as elaborated below.
Zacks ESP: Consolidated Edison has an Earnings ESP of +0.30%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Consolidated Edison currently carries a Zacks Rank #4 (Sell).
As it is, we caution against stocks with a Zacks Rank #4 or 5 (Strong Sell) going into the earnings announcement, especially when the company is seeing negative estimate revisions
Stocks That Warrant a Look
Here are some companies from the Zacks Utility sector you may want to consider as our model shows that these have the right combination of elements to post earnings beat this quarter:
IDACORP, Inc. (IDA - Free Report) has an Earnings ESP of +3.55% and carries a Zacks Rank #2. It is slated to report first-quarter results on May 3.
Ameren Corporation (AEE - Free Report) has an Earnings ESP of +1.45% and carries a Zacks Rank #3. It is slated to report first-quarter results on May 9.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
Consolidated Edison (ED) Q1 Earnings: What's in the Cards?
Consolidated Edison, Inc. (ED - Free Report) will report first-quarter 2018 results after the market closes on May 3.
In the last reported quarter, the company delivered a positive surprise of 2.56%. However, Consolidated Edison lagged the Zacks Consensus Estimate in two of the past four quarters, with an average miss of 0.05%.
Let’s see how things are shaping up for this earnings season.
Consolidated Edison Inc Price and EPS Surprise
Consolidated Edison Inc Price and EPS Surprise | Consolidated Edison Inc Quote
Factors at Play
Of late, Consolidated Edison has been incorporating renewable energy in its grid at an increasing rate. As a result, its fourth-quarter 2017 results reflected higher revenues from renewable electric production projects. We expect the company’s first-quarter results to reflect the same.
Weather pattern tends to influence quarterly results of utility providers. During the first quarter, Consolidated Edison’s service territories witnessed fluctuating weather, which might impact its revenues.
The company’s regulated based utilities offer it with a stable earnings base. In line with this, the Zacks Consensus Estimate for the company’s first-quarter earnings of $1.33 reflects an improvement of 4.7% year over year.
In January 2018, the company announced a dividend hike of 10%, reflecting the 44th consecutive annual dividend rise. Such dividend hikes hint at a solid cash flow reserve for the company, which we expect to get reflected in the to-be-reported results.
Earnings Whisper
Our proven model shows that Consolidated Edison is unlikely to beat earnings this quarter. Notably, a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is not the case here as elaborated below.
Zacks ESP: Consolidated Edison has an Earnings ESP of +0.30%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Consolidated Edison currently carries a Zacks Rank #4 (Sell).
As it is, we caution against stocks with a Zacks Rank #4 or 5 (Strong Sell) going into the earnings announcement, especially when the company is seeing negative estimate revisions
Stocks That Warrant a Look
Here are some companies from the Zacks Utility sector you may want to consider as our model shows that these have the right combination of elements to post earnings beat this quarter:
Hawaiian Electric Industries, Inc. (HE - Free Report) has an Earnings ESP of +0.91% and a Zacks Rank #2. It is expected to report first-quarter 2018 results on May 4. You can see the complete list of today’s Zacks #1 Rank stocks here.
IDACORP, Inc. (IDA - Free Report) has an Earnings ESP of +3.55% and carries a Zacks Rank #2. It is slated to report first-quarter results on May 3.
Ameren Corporation (AEE - Free Report) has an Earnings ESP of +1.45% and carries a Zacks Rank #3. It is slated to report first-quarter results on May 9.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>