Analysts on Wall Street project that Consolidated Edison (ED) will announce quarterly earnings of $1.76 per share in its forthcoming report, representing an increase of 4.8% year over year. Revenues are projected to reach $4.16 billion, increasing 1.7% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 3.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Con Ed metrics that Wall Street analysts commonly model and monitor.
Analysts forecast 'Operating revenues- O&R' to reach $332.21 million. The estimate points to a change of +1% from the year-ago quarter.
Based on the collective assessment of analysts, 'Operating revenues- CECONY' should arrive at $3.85 billion. The estimate indicates a change of +2.4% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Operating revenues- Steam' of $54.10 million. The estimate indicates a year-over-year change of +10.4%.
The average prediction of analysts places 'Operating revenues- CECONY- Gas' at $346.70 million. The estimate indicates a change of +2.9% from the prior-year quarter.
The combined assessment of analysts suggests that 'Operating revenues- CECONY- Steam' will likely reach $54.10 million. The estimate indicates a change of +10.4% from the prior-year quarter.
Analysts expect 'Operating revenues- O&R- Electric' to come in at $288.21 million. The estimate suggests a change of -1.6% year over year.
Analysts' assessment points toward 'Operating revenues- O&R- Gas' reaching $42.12 million. The estimate points to a change of +17% from the year-ago quarter.
It is projected by analysts that the 'Operating revenues- Gas' will reach $388.81 million. The estimate suggests a change of +4.2% year over year.
The consensus among analysts is that 'Operating revenues- Electric' will reach $3.70 billion. The estimate indicates a year-over-year change of +1%.
The consensus estimate for 'Operating revenues- CECONY- Electric' stands at $3.42 billion. The estimate points to a change of +1.2% from the year-ago quarter.
Analysts predict that the 'Operating Income- CECONY' will reach $901.84 million. The estimate compares to the year-ago value of $803.00 million.
According to the collective judgment of analysts, 'Operating Income- O&R' should come in at $59.92 million. The estimate is in contrast to the year-ago figure of $63.00 million.
View all Key Company Metrics for Con Ed here>>>
Shares of Con Ed have demonstrated returns of -2.7% over the past month compared to the Zacks S&P 500 composite's +2.1% change. With a Zacks Rank #3 (Hold), ED is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Consolidated Edison Inc (ED): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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