Consolidated Edison, Inc. Quarterly Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Consolidated Edison, Inc. (NYSE:ED) will unveil its latest earnings on Thursday, August 4, 2011. Consolidated Edison Inc. provides electric, gas, and steam utility services to customers through its subsidiaries.

Consolidated Edison, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 53 cents per share, a rise of 3.9% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 51 cents. Between one and three months ago, the average estimate was unchanged, but has risen during the last month. For the year, analysts are projecting profit of $3.55 per share, a rise of 3.5% from last year.

Past Earnings Performance: The company is hoping to beat estimates after missing the mark for two straight quarters. Last quarter, it reported net income of 97 cents per share against an estimate of profit of $1 per share. The quarter before that, it missed forecasts by 2 cents.

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Wall St. Revenue Expectations: On average, analysts predict $3.12 billion in revenue this quarter, a rise of 3.3% from the year ago quarter. Analysts are forecasting total revenue of $13.9 billion for the year, a rise of 4.4% from last year’s revenue of $13.32 billion.

Analyst Ratings: Analysts seem relatively indifferent about Consolidated Edison with 14 of 15 analysts surveyed maintaining a hold rating.

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 37.1% while it rose 15.2% in the fourth quarter of the last fiscal year and 4.1% in the third quarter of the last fiscal year.

Revenue has fallen in the past two quarters. In first quarter, revenue declined 3.3% to $3.35 billion from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 4.1%.

Competitors to Watch: CH Energy Group, Inc. (NYSE:CHG), Unitil Corporation (NYSE:UTL), FirstEnergy Corp. (NYSE:FE), NiSource Inc. (NYSE:NI), CMS Energy Corporation (NYSE:CMS), Wisconsin Energy Corp. (NYSE:WEC), PG&E Corporation (NYSE:PCG), Avista Corporation (NYSE:AVA), NorthWestern Corporation (NYSE:NWE), and SCANA Corporation (NYSE:SCG).

Stock Price Performance: During July 25, 2011 to July 29, 2011, the stock price had dropped 71 cents (-1.3%) from $53.31 to $52.60. The stock price saw one of its best stretches over the last year between April 21, 2011 and May 4, 2011 when shares rose for nine-straight days, rising 4.5% (+$2.28) over that span. It saw one of its worst periods between July 21, 2011 and July 29, 2011 when shares fell for seven-straight days, falling 2.5% (-$1.36) over that span. Shares are up $4.17 (+8.6%) year to date.

(Source: Xignite Financials)

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