In a report released yesterday, Michael Weinstein W. from Credit Suisse maintained a Sell rating on Consolidated Edison (ED), with a price target of $78.00. The company’s shares closed last Thursday at $75.37.
According to TipRanks.com, W. is a 4-star analyst with an average return of 3.7% and a 51.2% success rate. W. covers the Utilities sector, focusing on stocks such as Nextera Energy Partners, Pinnacle West Capital, and Centerpoint Energy.
Consolidated Edison has an analyst consensus of Moderate Sell, with a price target consensus of $82.00, implying a 9.3% upside from current levels. In a report issued on April 21, Barclays also maintained a Sell rating on the stock with a $79.00 price target.
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Based on Consolidated Edison’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.33 billion and net profit of $365 million. In comparison, last year the company earned revenue of $4.22 billion and had a net profit of $413 million.
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Consolidated Edison Co. of New York, Inc. engages in the distribution of electric power services. It operates through the following segments: Electric, Gas, and Steam. The company was founded in 1884 and is headquartered in New York, NY.
