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 $107.8. The utility giant, with a market capitalization of $37.2 billion, boasts an impressive 50-year streak of consecutive dividend increases and maintains a solid 3.3% dividend yield. This peak punctuates a period of robust growth for the utility company, which has seen its stock value climb by an impressive 18.37% over the past year. Investors have shown increasing confidence in Consolidated Edison, often seen as a stable investment in the essential services sector, which has been underscored by this latest milestone in the company’s financial performance. The company maintains a "GOOD" financial health score according to InvestingPro analysis, though current valuations suggest the stock may be trading above its Fair Value. The all-time high represents not just a 52-week triumph but a historic zenith in the company’s stock valuation, reflecting a strong endorsement from the market and potentially setting the stage for future growth. With a P/E ratio of 20.2 and analysts predicting continued profitability, investors seeking deeper insights can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports.
In other recent news, Consolidated Edison reported fourth-quarter earnings that exceeded analyst expectations, posting adjusted earnings per share of $0.98 compared to the anticipated $0.95. The company also reported revenue of $3.67 billion, surpassing the expected $3.59 billion, marking a 2.2% increase year-over-year. For the full year 2024, the company achieved adjusted earnings of $5.40 per share, an increase from $5.07 in 2023, with net income for common stock at $1.82 billion. Consolidated Edison has projected its 2025 adjusted earnings per share to be between $5.50 and $5.70, aligning closely with the analyst consensus of $5.63. The company announced a significant expansion in its five-year capital plan, adding $10 billion, representing a 35% increase over previous figures. Evercore ISI raised its price target for Consolidated Edison to $107 from $100, maintaining an In Line rating. Additionally, Consolidated Edison entered an underwriting agreement with Barclays (LON:BARC) Capital for the sale of 6.3 million common shares, though the specific use of proceeds was not disclosed. These developments highlight Consolidated Edison’s ongoing financial activities and strategic growth plans.
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