Wall Street analysts expect Consolidated Edison (ED) to post quarterly earnings of $0.97 per share in its upcoming report, which indicates a year-over-year decline of 3%. Revenues are expected to be $3.58 billion, up 3.9% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision 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' assessment points toward 'Operating revenues- Steam' reaching $149.18 million. The estimate indicates a year-over-year change of +3.6%.
The consensus among analysts is that 'Operating revenues- O&R- Gas' will reach $97.23 million. The estimate points to a change of +18.6% from the year-ago quarter.
Analysts predict that the 'Operating revenues- CECONY- Electric' will reach $2.42 billion. The estimate indicates a year-over-year change of +2.6%.
Based on the collective assessment of analysts, 'Operating revenues- CECONY- Gas' should arrive at $688.37 million. The estimate suggests a change of -0.1% year over year.
It is projected by analysts that the 'Operating revenues- CECONY- Steam' will reach $149.18 million. The estimate indicates a change of +3.6% from the prior-year quarter.
The combined assessment of analysts suggests that 'Operating revenues- O&R- Electric' will likely reach $195.06 million. The estimate suggests a change of +14.1% year over year.
According to the collective judgment of analysts, 'Operating revenues- Gas' should come in at $785.59 million. The estimate points to a change of +1.8% from the year-ago quarter.
Analysts expect 'Operating revenues- Electric' to come in at $2.61 billion. The estimate indicates a change of +3.4% from the prior-year quarter.
View all Key Company Metrics for Con Ed here>>>
Shares of Con Ed have demonstrated returns of +3.7% over the past month compared to the Zacks S&P 500 composite's +4.9% 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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