Consolidated Edison (NYSE:ED) has experienced a significant decline in its short percent of float, dropping by 7.87% since its last report. The company recently disclosed that 5.99 million shares have been sold short, accounting for 2.34% of all regular shares available for trading. Based on the trading volume, it would take an average of 3.69 days for traders to cover their short positions. Monitoring short interest is crucial as it can serve as an indicator of market sentiment towards a specific stock. An increase in short interest suggests a more bearish outlook from investors, while a decrease indicates a more bullish sentiment.
Here are some additional insights into Consolidated Edison’s short interest:
On March 15th, investors had sold 9,390,000 shares of ED short, marking a 61.9% increase from the previous total of 5,800,000 shares.
The short interest ratio, also known as the “days to cover ratio,” is calculated by dividing the number of shares sold short by the average trading volume. A short interest ratio of 10 or higher signifies strong pessimism regarding a stock. Currently, ED shares have a short interest ratio of 3.0.
The latest short interest stands at 5.95 million shares, representing 1.72% of the outstanding shares.
According to Seeking Alpha, the short interest is reported at 1.74%.
It is important to note that short interest should not be the sole factor considered when analyzing a stock. Investors should also evaluate other metrics such as earnings, revenue, and debt levels to gain a more comprehensive understanding of a company’s financial health.
Consolidated Edison, Inc.
ED
Strong Buy
Updated on: 29/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Consolidated Edison Stock Shows Stability and Positive Growth in 2023
On September 19, 2023, Consolidated Edison’s stock opened at $91.66, slightly higher than the previous day’s closing price of $91.57. Throughout the day, the stock traded within a range of $91.15 to $92.01. The volume of shares traded was 1,132,199, which is lower than the average volume of 1,873,846 over the past three months.
Consolidated Edison has a market capitalization of $31.6 billion. The company has shown positive earnings growth in the past year, with a growth rate of 21.20%. However, the earnings growth for this year is slightly lower at 6.09%. Looking ahead, the company is expected to maintain a steady earnings growth rate of 5.83% over the next five years.
In terms of revenue growth, Consolidated Edison experienced a growth rate of 14.57% in the last year. The company’s price-to-earnings (P/E) ratio is 13.1. Additionally, the price-to-sales ratio is 2.16, and the price-to-book ratio is 1.57.
On September 19, 2023, Consolidated Edison’s stock performed relatively well compared to some of its peers in the industry. Xcel Energy Inc saw a slight increase of 0.93% in its stock price, while Public Service Enterprise Group (PEG) experienced a decline of 1.14%. Exelon’s stock price also decreased by 0.99%. On the other hand, PG&E’s stock price increased by 0.58%.
Consolidated Edison’s next reporting date is scheduled for November 2, 2023. Analysts are forecasting an earnings per share (EPS) of $1.73 for this quarter. In the previous year, the company generated an annual revenue of $15.7 billion and a profit of $1.7 billion. The net profit margin for Consolidated Edison is 10.60%.
As a utility company in the electric utilities sector, Consolidated Edison does not have any executives listed. The company’s corporate headquarters are located in New York, New York.
Overall, on September 19, 2023, Consolidated Edison’s stock showed stability and performed relatively well compared to its industry peers. With positive earnings and revenue growth, the company demonstrates its ability to generate consistent profits in the electric utilities sector. Investors may continue to monitor the stock’s performance and upcoming earnings reports for further insights into Consolidated Edison’s financial health and growth prospects.
ED Stock: Mixed Performance and Bearish Sentiment Revealed in Recent Analyst Forecasts
ED stock, referring to Consolidated Edison Inc, had a mixed performance on September 19, 2023, based on the information provided by CNN Money. The 14 analysts offering 12-month price forecasts for ED stock had a median target of $88.00, with a high estimate of $103.00 and a low estimate of $73.00. The current consensus among 17 polled investment analysts is to hold stock in Consolidated Edison Inc. This rating has remained steady since September. In terms of recent financial performance, Consolidated Edison Inc reported earnings per share of $1.73 for the current quarter, with sales amounting to $4.0 billion. The reporting date for these figures is November 02. Based on the median price forecast from the analysts, it appears that there is a bearish sentiment towards ED stock. However, it is important to note that these forecasts are subject to change. Investors should consider these forecasts along with other factors before making any investment decisions. It is always advisable to conduct thorough research and consult with a financial advisor.
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