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Unlocking Q3 Potential of Con Ed (ED): Exploring Wall Street Estimates for Key Metrics
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Analysts on Wall Street project that Consolidated Edison (ED - Free Report) will announce quarterly earnings of $2.07 per share in its forthcoming report, representing an increase of 9% year over year. Revenues are projected to reach $4.77 billion, increasing 5.2% from the same quarter last year.
The current level reflects an upward revision of 12.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance 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.
In light of this perspective, let's dive into the average estimates of certain Con Ed metrics that are commonly tracked and forecasted by Wall Street analysts.
Based on the collective assessment of analysts, 'Operating revenues- CECONY' should arrive at $4.39 billion. The estimate indicates a change of +5% from the prior-year quarter.
The consensus estimate for 'Operating revenues- O&R' stands at $357.73 million. The estimate indicates a year-over-year change of +2.5%.
The average prediction of analysts places 'Operating Income- O&R' at $68.91 million. The estimate compares to the year-ago value of $57.00 million.
The combined assessment of analysts suggests that 'Operating Income- CECONY' will likely reach $1.02 billion. The estimate compares to the year-ago value of $914.00 million.
Over the past month, shares of Con Ed have returned +14.6% versus the Zacks S&P 500 composite's -2.3% change. Currently, ED carries a Zacks Rank #2 (Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
View the Zacks #1 Rank List
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Unlocking Q3 Potential of Con Ed (ED): Exploring Wall Street Estimates for Key Metrics
Analysts on Wall Street project that Consolidated Edison (ED - Free Report) will announce quarterly earnings of $2.07 per share in its forthcoming report, representing an increase of 9% year over year. Revenues are projected to reach $4.77 billion, increasing 5.2% from the same quarter last year.
The current level reflects an upward revision of 12.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance 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.
In light of this perspective, let's dive into the average estimates of certain Con Ed metrics that are commonly tracked and forecasted by Wall Street analysts.
Based on the collective assessment of analysts, 'Operating revenues- CECONY' should arrive at $4.39 billion. The estimate indicates a change of +5% from the prior-year quarter.
The consensus estimate for 'Operating revenues- O&R' stands at $357.73 million. The estimate indicates a year-over-year change of +2.5%.
The average prediction of analysts places 'Operating Income- O&R' at $68.91 million. The estimate compares to the year-ago value of $57.00 million.
The combined assessment of analysts suggests that 'Operating Income- CECONY' will likely reach $1.02 billion. The estimate compares to the year-ago value of $914.00 million.
View all Key Company Metrics for Con Ed here>>>Over the past month, shares of Con Ed have returned +14.6% versus the Zacks S&P 500 composite's -2.3% change. Currently, ED carries a Zacks Rank #2 (Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .