Consolidated Edison Inc. (NYSE:ED) finished Wednesday with a subtraction of -$1.2 to close at $86.63, a downside of -1.37 percent. An average of 1,730,440 shares of common stock have been traded in the last five days. There was a fall of -$4.87 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 1,708,335 shares traded, while the 50-day average volume stands at 1,771,400.
ED stock has decreased by -3.43% in the last month. The company shares reached their 1-month lowest point of $86.21 on 09/06/23. With the stock rallying to its 52-week high on 04/25/23, shares of the company touched a low of $78.10 and a high of $100.92 in 52 weeks. It has reached a new high 11 times so far this year and lost -9.11% or -$8.68 in price. In spite of this, the price is down -14.16% from the 52-week high.
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Valuation Metrics
Consolidated Edison Inc. (ED) has a trailing price-to-earnings (P/E) ratio of 12.46. The stock’s beta is 0.37. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.93, the price-to-book (PB) ratio at 1.43.
The company has a payout ratio of 67.73%. The company’s most recent quarterly dividend payment was $0.81 a share, without any change from last year. Its latest increase dividend $0.02 reported on Thursday January 19 2023.
Financial Health
The quick ratio of Consolidated Edison Inc. for the three months ended June 29 was 0.95, and the current ratio was 1.02, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.02 and a total debt to equity ratio of 1.15 for the quarter ending June 29. Its gross profit as reported stood at $2.62 billion compared to revenue of $15.67 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Consolidated Edison Inc.’s return on assets was 3.82%.
Earnings Surprise
For the three-month period that ended June 29, Consolidated Edison Inc. had $20.65 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $226.0 million in the quarter, while revenues of $1.43 billion were shrunk -12.83%. The analyst consensus anticipated Consolidated Edison Inc.’s latest quarter earnings to come in at $0.61 per share, but it turned out to be $0.61, a 0.00% surprise. For the quarter, EBITDA amounted to $779.0 million. Shareholders own equity worth $344.92 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Consolidated Edison Inc. (ED) price momentum. RSI 9-day as of the close on 27 September was 26.44%, suggesting the stock is oversold, with historical volatility in this time frame at 15.17%.
As of today, ED’s price is $89.28 -5.32% or -$4.87 from its 5-day moving average. ED is currently trading -3.83% lower than its 20-day SMA and -12.07% lower than its 100-day SMA. However, the stock’s current price level is -5.98% below the SMA50 and -11.23% below the SMA200.
The stochastic %K and %D were 21.70% and 43.26%, respectively, and the average true range (ATR) was 1.53. With the 14-day stochastic at 1.53% and the average true range at 1.51, the RSI (14) stands at 33.95%. The stock has reached -2.00 on the 9-day MACD Oscillator while the 14-day reading was at -2.14.
Analyst Ratings
Barclays launched coverage on Consolidated Edison Inc. (NYSE: ED) in its analyst report released on August 23, 2023. The firm assigned the stock an Equal weight rating. The consensus rating for Consolidated Edison Inc. (ED) among analysts is Underweight. According to current brokerage recommendations, 6 brokerage firms advise that investors sell ED, while 9 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.
What is ED’s price target for the next 12 months?
Analysts predict a range of price targets between $75.00 and $103.00, with a median target of $88.00. Taking a look at these predictions, the average price target given by analysts for Consolidated Edison Inc. (ED) stock is $87.93.
