The upcoming report from Consolidated Edison (ED) is expected to reveal quarterly earnings of $0.84 per share, indicating a decline of 14.3% compared to the year-ago period. Analysts forecast revenues of $3.7 billion, representing an increase of 0.8% year over year.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Con Ed metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus estimate for 'Operating revenues- O&R' stands at $261.09 million. The estimate suggests a change of -3.3% year over year.
Analysts predict that the 'Operating revenues- CECONY' will reach $3.46 billion. The estimate points to a change of +1.7% from the year-ago quarter.
The average prediction of analysts places 'Operating revenues- Steam' at $160.44 million. The estimate points to a change of +3.5% from the year-ago quarter.
Analysts' assessment points toward 'Operating revenues- CECONY- Gas' reaching $707.11 million. The estimate indicates a year-over-year change of -1.1%.
Based on the collective assessment of analysts, 'Operating revenues- CECONY- Steam' should arrive at $160.44 million. The estimate points to a change of +3.5% from the year-ago quarter.
Analysts expect 'Operating revenues- O&R- Electric' to come in at $191.25 million. The estimate indicates a change of +0.7% from the prior-year quarter.
The consensus among analysts is that 'Operating revenues- O&R- Gas' will reach $67.89 million. The estimate suggests a change of -15.1% year over year.
According to the collective judgment of analysts, 'Operating revenues- Gas' should come in at $775.00 million. The estimate indicates a change of -2.5% from the prior-year quarter.
It is projected by analysts that the 'Operating revenues- Electric' will reach $2.75 billion. The estimate suggests a change of +0.8% year over year.
The combined assessment of analysts suggests that 'Operating revenues- CECONY- Electric' will likely reach $2.56 billion. The estimate indicates a year-over-year change of +1.1%.
The collective assessment of analysts points to an estimated 'Operating Income- CECONY' of $600.96 million. Compared to the current estimate, the company reported $486.00 million in the same quarter of the previous year.
Analysts forecast 'Operating Income- O&R' to reach $26.49 million. Compared to the current estimate, the company reported $34.00 million in the same quarter of the previous year.
View all Key Company Metrics for Con Ed here>>>
Over the past month, Con Ed shares have recorded returns of +8.9% versus the Zacks S&P 500 composite's -2% change. Based on its Zacks Rank #3 (Hold), ED will likely exhibit a performance that aligns with the overall market in the upcoming period. 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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