For the current quarter, the 8.00 analysts offering adjusted EPS forecast have a consensus estimate of $0.72 a share, which would compare with $0.77 in the same quarter last year. They have a high estimate of $0.80 and a low estimate of $0.61. Revenue for the period is expected to total nearly $2.79B from $2.79B the year-ago period.
For the full year, 18.00 Wall Street analysts forecast this company would deliver earnings of 3.99 per share, with a high estimate of $4.12 and a low estimate of $3.90. It had reported earnings per share of $4.08 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $12.46B versus 12.55B in the preceding year.
The analysts project the company to maintain annual growth of around 1.89% percent over the next five years as compared to an average growth rate of 6.71% percent expected for its competitors in the same industry.
Among the 13 analysts Data provided by Thomson/First Call tracks, the 12-month average price target for ED is $69.65 but some analysts are projecting the price to go as high as $79.00. If the optimistic analysts are correct, that represents a 3 percent upside potential from the recent closing price of $76.54. Some sell-side analysts, particularly the bearish ones, have called for $64.00 price targets on shares of Consolidated Edison, Inc. (NYSE:ED).
In the last reported results, the company reported earnings of $0.77 per share, while analysts were calling for share earnings of $0.63. It was an earnings surprise of 22.20%percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
Consolidated Edison, Inc., through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.4 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, and parts of Queens and Westchester County; and steam to approximately 1,700 customers in parts of Manhattan. The company owns 62 area distribution substations and various distribution facilities; 39 transmission substations and 62 area stations; electric generation facilities with an aggregate capacity of 724 megawatts that run on gas and fuel oil; 4,348 miles of mains and 369,791 service lines for natural gas distribution; and 1 steam-electric generating station and 5 steam-only generating stations. It also supplies electricity to approximately 0.3 million customers in southeastern New York, and in adjacent areas of northern New Jersey and northeastern Pennsylvania; and gas to approximately 0.1 million customers in southeastern New York and adjacent areas of northeastern Pennsylvania. The company operates 572 circuit miles of transmission lines; 14 transmission substations; 86,794 in-service line transformers; 3,994 pole miles of overhead distribution lines; and 1,889 miles of underground distribution lines, as well as 1,867 miles of mains and 105,482 service lines for natural gas distribution. In addition, it is involved in the sale and related hedging of electricity to retail customers; and provision of energy-related products and services to wholesale and retail customers. Further, the company develops, owns, and operates renewable and energy infrastructure projects, as well as invests in transmission companies. It primarily sells electricity to industrial, commercial, residential, and governmental customers. Consolidated Edison, Inc. was founded in 1884 and is based in New York, New York.
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