Nucor earnings beat by $0.08, revenue fell short of estimates
In a remarkable display of resilience amid a volatile market, Consolidated Edison (NYSE:ED)’s stock has soared to an all-time high, reaching a price level of $109.37. With a market capitalization of $37.9 billion and a P/E ratio of 20.7, InvestingPro analysis suggests the stock is trading slightly above its Fair Value. This milestone underscores a period of robust performance for the utility company, which has seen its stock value climb by an impressive 20.37% over the past year, with a remarkable 22% year-to-date return. Investors have shown increased confidence in Consolidated Edison, often seen as a stable investment in uncertain times, propelling the stock to new heights and outpacing many of its peers in the energy sector. The company’s beta of 0.29 reflects its lower volatility compared to the broader market. The company’s commitment to sustainable energy solutions and consistent dividend payments may have contributed to this bullish trend, signaling a strong outlook for the future. InvestingPro data reveals an impressive 50-year streak of consecutive dividend increases, with a current yield of 3.15%. Discover more insights and 6 additional ProTips about Consolidated Edison with an InvestingPro subscription.
In other recent news, Consolidated Edison reported fourth-quarter earnings that exceeded analyst expectations, with adjusted earnings per share of $0.98, surpassing the consensus of $0.95. The company’s revenue also topped estimates, reaching $3.67 billion compared to the anticipated $3.59 billion. For the full year 2024, Consolidated Edison reported adjusted earnings of $5.40 per share, an increase from $5.07 in 2023, and provided guidance for fiscal year 2025 with projected earnings per share between $5.50 and $5.70. Additionally, the company announced a significant expansion of its five-year capital plan, adding $10 billion, representing a 35% increase over previous figures.
Analyst firms have also adjusted their outlooks on Consolidated Edison. BofA Securities raised its price target to $113 while maintaining a Buy rating, citing consistent earnings per share estimates and a solid track record. Jefferies increased the price target to $113 as well, maintaining a Hold rating, reflecting a positive view on the company’s earnings potential amid ongoing rate case proceedings. Evercore ISI raised its price target to $107, keeping an In Line rating, following the company’s positive financial performance and updated projections. In other developments, Consolidated Edison entered into an underwriting agreement with Barclays (LON:BARC) Capital Inc. for the sale of 6.3 million common shares, further indicating active financial management.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.