Consolidated Edison (ED) has been forecasted with a new
$85.00 price target by Morgan Stanley, while it maintains an 'average hold' status by brokerages. The company’s
stock has observed strong trading days, consistently outperforming competitors, however, there were instances when it underperformed. Consolidated Edison reported a third quarter
profit beat due to higher rates and saw year-on-year revenues rise.
Significant debenture sale and a predicted decline in earnings was also announced. The company disclosed two common stock dividends and will present a webcast focusing on its
clean energy future. Controversially, there were reports of software costs soaring regarding new customer billing system and allegations of price gouging. Consolidated Edison focuses to redeem its tax-exempt debt and looking ahead to service rates rise which helped them exceed profit expectations. The company is also involved in major leadership transition, retired Robert Hoglund and announced Kirkland Andrews as next CFO. Institutional investors, have shown interest, with 70% stakes, favoring the company for its high-single-digit returns with low risk.
Consolidated Edison ED News Analytics from Thu, 15 Feb 2024 08:00:00 GMT to Sat, 23 Nov 2024 18:20:03 GMT -
Rating 7
- Innovation -3
- Information 6
- Rumor 4
