Consolidated Edison Inc (ED - Free Report) is set to report fourth-quarter and full-year 2018 results on Feb 21, before market opens.
In the last reported quarter, the company witnessed a positive earnings surprise of 5.41%. The bottom line outpaced the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 4.50%.
Let’s see how things are shaping up prior to this announcement.
Why a Likely Positive Earnings Surprise
Our proven model shows a likely earnings beat for Consolidated Edison this quarter. That is because 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. This is the case here as you will see below.
Earnings ESP: Consolidated Edison has an Earnings ESP of +0.44%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Consolidated Edison currently carries a Zacks Rank #2, which when combined with a positive ESP makes us confident of probable
earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here.
Note that we caution against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Consolidated Edison Inc Price and EPS Surprise