Consolidated Edison (ED - Free Report) will release third-quarter 2018 results on Nov 1, before the opening bell.
In the last reported quarter, the company delivered a positive earnings surprise of 7.02%. Moreover, Consolidated Edison has surpassed the Zacks Consensus Estimate in three of the trailing four quarters, with an average beat of 2.01%.
Let’s see how things are shaping up prior to this announcement.
Why a Likely Positive Surprise?
Our proven model shows that Consolidated Edison is likely to beat earnings estimates in the third quarter. Notably, a stock needs to have both — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — for this to happen. And Consolidated Edison has both these attributes.
Earnings ESP: Consolidated Edison has an Earnings ESP of +1.04%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Consolidated Edison carries a Zacks Rank #3, which along with a positive Earnings ESP, increases the possibility of an earnings beat.
Conversely, we caution against Sell-rated stocks (#4 or 5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Consolidated Edison Inc Price and EPS Surprise