Consolidated Edison Inc. (NYSE:ED) saw an upside of 0.76% to close Tuesday at $89.38 after adding $0.67 on the day. The 5-day average trading volume is 1,387,780 shares of the company’s common stock. It has gained $89.57 in the past week and touched a new high 2 times within the past 5 days. An average of 1,769,370 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,769,414.
ED’s 1-month performance is -7.98% or -$7.75 on its low of $87.36 reached on 08/15/23. The company’s shares have touched a 52-week low of $78.10 and high of $102.21, with the stock’s rally to the 52-week high happening on 04/25/23. YTD, ED has lost -6.22% or -$5.93 and has reached a new high 11 times. However, the current price is down -12.55% from the 52-week high price.
Valuation Metrics
ED stock has a beta of 0.38. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.96 while the price-to-book (PB) in the most recent quarter is 1.49.
Consolidated Edison Inc.’s quick ratio for the period ended June 29 was 1.00, with the current ratio over the same period at 1.00. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.99, while the total debt to equity was 1.12.. In terms of profitability, the gross margin trailing 12 months is 76.10%. The trailing 12-month EBITDA margin is 29.82% while for the period ending June 29, Consolidated Edison Inc.’s operating margin was 22.30%. The firm’s gross profit as reported stood at $2.62 billion against revenue of $15.67 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -12.83% to $226.0 million, while revenue of $1.43 billion was -534.07% off the previous quarter. Analysts expected ED to announce $0.61 per share in earnings in its latest quarter, but it posted $0.61, representing a 0.00% surprise. EBITDA for the quarter stood at more than $779.0 million. ED stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 42.97 billion, with total debt at $23.84 billion. Shareholders hold equity totaling $344.92 million.
Let’s look briefly at Consolidated Edison Inc. (ED) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 43.16% to suggest the stock is trending Neutral, with historical volatility in this time period at 17.69%.
The stock’s 5-day moving average is $88.90, reflecting a +1.94% or $1.70 change from its current price. ED is currently trading -8.53% above its 20-day SMA, -6.02% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -4.40% and SMA200 by+1.33%.
Stochastic %K and %D was 26.72% and 20.61% and the average true range (ATR) pointed at 1.58. The RSI (14) points at 42.47%, while the 14-day stochastic is at 35.85% with the period’s ATR at 1.61. The stock’s 9-day MACD Oscillator is pointing at -0.08 and -0.53 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Consolidated Edison Inc. (NYSE: ED), BofA Securities upgraded it to a Buy rating. They previously had a Neutral rating on the stock. Analysts offering their rating for ED stock have a consensus rating for the stock as Hold. Currently, 6 brokerage advisors rate ED as a “sell,”, while 10 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.
