Consolidated Edison, Inc. (NYSE:ED) defied analyst predictions to release its quarterly results, which were ahead of market expectations. The company beat expectations with revenues of US$3.2b arriving 3.0% ahead of forecasts. Statutory earnings per share (EPS) were US$0.58, 5.2% ahead of estimates. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.
NYSE:ED Earnings and Revenue Growth August 3rd 2024
Taking into account the latest results, the most recent consensus for Consolidated Edison from twelve analysts is for revenues of US$15.3b in 2024. If met, it would imply a satisfactory 3.4% increase on its revenue over the past 12 months. Statutory per share are forecast to be US$5.22, approximately in line with the last 12 months. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$15.3b and earnings per share (EPS) of US$5.31 in 2024. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.
It will come as no surprise then, to learn that the consensus price target is largely unchanged at US$92.87. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. Currently, the most bullish analyst values Consolidated Edison at US$103 per share, while the most bearish prices it at US$75.00. As you can see, analysts are not all in agreement on the stock's future, but the range of estimates is still reasonably narrow, which could suggest that the outcome is not totally unpredictable.
Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. It's clear from the latest estimates that Consolidated Edison's rate of growth is expected to accelerate meaningfully, with the forecast 7.0% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 5.3% p.a. over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 5.3% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Consolidated Edison is expected to grow much faster than its industry.
The Bottom Line
The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. The consensus price target held steady at US$92.87, with the latest estimates not enough to have an impact on their price targets.
Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have forecasts for Consolidated Edison going out to 2026, and you can see them free on our platform here.
Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Consolidated Edison (1 can't be ignored) you should be aware of.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. It's clear from the latest estimates that Consolidated Edison's rate of growth is expected to accelerate meaningfully, with the forecast 7.0% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 5.3% p.a. over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 5.3% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Consolidated Edison is expected to grow much faster than its industry. 
大局を見ると、これらの予測の意味を理解する方法の1つは、過去のパフォーマンスと業種成長の見積もりと比較することです。最新の見積もりからは、Consolidated Edisonの成長率が著しく加速することが予想されており、2024年までの7.0％の年間売上高成長率は、過去5年間の5.3％ p.a.の歴史的成長よりも目立って速いです。一方、次に分析された業界内の他の企業は、年間5.3％の売上高成長が見込まれています。売上高の予想の加速を考慮に入れると、Consolidated Edisonは業界よりもはるかに速く成長することが予想されています。 