Consolidated Edison Inc. [NYSE: ED] gained 0.41% on the last trading session, reaching $71.07 price per share at the time. The company report on August 6, 2020 that Con Edison Reports 2020 Second Quarter Earnings.
Consolidated Edison, Inc. (Con Edison) (NYSE: ED) today reported 2020 second quarter net income for common stock of $190 million or $0.57 a share compared with $152 million or $0.46 a share in the 2019 second quarter. Adjusted earnings were $201 million or $0.60 a share in the 2020 period compared with $189 million or $0.58 a share in the 2019 period. Adjusted earnings in the 2020 and 2019 periods exclude the effects of hypothetical liquidation at book value (HLBV) accounting for tax equity investments in certain renewable electric production projects of Con Edison Clean Energy Businesses, Inc. (the Clean Energy Businesses) and the net mark-to-market effects of the Clean Energy Businesses.
For the first six months of 2020, net income for common stock was $565 million or $1.69 a share compared with $576 million or $1.77 a share in the first six months of 2019. Adjusted earnings were $652 million or $1.95 a share in the 2020 period compared with $637 million or $1.96 a share in the 2019 period. Adjusted earnings in the 2020 and 2019 periods exclude the effects of HLBV accounting for tax equity investments in certain renewable electric production projects of the Clean Energy Businesses and the net mark-to-market effects of the Clean Energy Businesses.
Consolidated Edison Inc. represents 334.10 million in outstanding shares, while the company has a total market value of $23.84 billion with the latest information. ED stock price has been found in the range of $70.55 to $71.79.
If compared to the average trading volume of 1.99M shares, ED reached a trading volume of 1807054 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Consolidated Edison Inc. [ED]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ED shares is $77.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ED stock is a recommendation set at 3.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
KeyBanc Capital Markets have made an estimate for Consolidated Edison Inc. shares, keeping their opinion on the stock as Sector Weight, with their previous recommendation back on August 11, 2020. The new note on the price target was released on August 10, 2020, representing the official price target for Consolidated Edison Inc. stock. Previously, the target price had yet another raise to $91, while BofA/Merrill analysts kept a Buy rating on ED stock. On February 24, 2020, analysts decreased their price target for ED shares from 98 to 91.
The Average True Range (ATR) for Consolidated Edison Inc. is set at 1.70, with the Price to Sales ratio for ED stock in the period of the last 12 months amounting to 1.94. The Price to Book ratio for the last quarter was 1.30, with the Price to Cash per share for the same quarter was set at 3.41. Price to Free Cash Flow for ED in the course of the last twelve months was 12.66 with Quick ratio for the last quarter at 0.60.
Trading performance analysis for ED stock
Consolidated Edison Inc. [ED] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.84. With this latest performance, ED shares dropped by -7.34% in over the last four-week period, additionally sinking by -9.83% over the last 6 months – not to mention a drop of -19.03% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ED stock in for the last two-week period is set at 40.22, with the RSI for the last a single of trading hit 36.49, and the three-weeks RSI is set at 42.28 for Consolidated Edison Inc. [ED]. The present Moving Average for the last 50 days of trading for this stock 73.48, while it was recorded at 72.28 for the last single week of trading, and 81.43 for the last 200 days.
Consolidated Edison Inc. [ED]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Consolidated Edison Inc. [ED] shares currently have an operating margin of +21.13 and a Gross Margin at +40.50. Consolidated Edison Inc.’s Net Margin is presently recorded at +10.70.
Return on Total Capital for ED is now 6.77, given the latest momentum, and Return on Invested Capital for the company is 3.75. Return on Equity for this stock inclined to 7.73, with Return on Assets sitting at 2.40. When it comes to the capital structure of this company, Consolidated Edison Inc. [ED] has a Total Debt to Total Equity ratio set at 125.06. Additionally, ED Total Debt to Total Capital is recorded at 55.57, with Total Debt to Total Assets ending up at 38.81. Long-Term Debt to Equity for the company is recorded at 107.29, with the Long-Term Debt to Total Capital now at 47.67.
Reflecting on the efficiency of the workforce at the company, Consolidated Edison Inc. [ED] managed to generate an average of $90,195 per employee. Receivables Turnover for the company is 5.93 with a Total Asset Turnover recorded at a value of 0.22.Consolidated Edison Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.70.
Consolidated Edison Inc. [ED]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Consolidated Edison Inc. posted 1.54/share EPS, while the average EPS was predicted by analysts to be reported at 1.58/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -2.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ED. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Consolidated Edison Inc. go to 2.55%.
An analysis of insider ownership at Consolidated Edison Inc. [ED]
There are presently around $14,320 million, or 62.40% of ED stock, in the hands of institutional investors. The top three institutional holders of ED stocks are: BLACKROCK INC. with ownership of 33,382,531, which is approximately -0.109% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 28,499,882 shares of the stock with an approximate value of $2.03 billion in ED stocks shares; and STATE STREET CORP, currently with $1.55 billion in ED stock with ownership of nearly -5.271% of the company’s market capitalization.
Positions in Consolidated Edison Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 367 institutional holders increased their position in Consolidated Edison Inc. [NYSE:ED] by around 13,251,935 shares. Additionally, 445 investors decreased positions by around 15,574,477 shares, while 196 investors held positions by with 172,662,265 shares. The mentioned changes placed institutional holdings at 201,488,677 shares, according to the latest SEC report filing. ED stock had 78 new institutional investments in for a total of 2,496,288 shares, while 103 institutional investors sold positions of 1,227,343 shares during the same period.