Morgan Stanley analyst Stephen Byrd maintained a Sell rating on Con Edison (NYSE: ED) today and set a price target of $81. The company’s shares closed yesterday at $80.54.
According to TipRanks.com, Byrd is a 3-star analyst with an average return of 2.7% and a 61.4% success rate. Byrd covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, American Electric Power, and South Jersey Industries.
Con Edison has an analyst consensus of Moderate Sell, with a price target consensus of $63.
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Based on Con Edison’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.7 billion and net profit of $188 million. In comparison, last year the company earned revenue of $2.66 billion and had a net profit of $175 million.
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Consolidated Edison, Inc. is a holding company, which through its subsidiaries engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Co. of New York, Inc.; Orange & Rockland Utilities, Inc; Competitive Energy Businesses; and Other.
