|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||79.90 - 81.00|
|52 Week Range||62.03 - 95.10|
|Beta (5Y Monthly)||0.14|
|PE Ratio (TTM)||20.12|
|Earnings Date||Nov 05, 2020|
|Forward Dividend & Yield||3.06 (3.81%)|
|Ex-Dividend Date||Aug 18, 2020|
|1y Target Est||77.47|
Consolidated Edison, Inc. (Con Edison) (NYSE: ED) plans to report its 3rd Quarter 2020 earnings on November 5, 2020 after the market closes.
Consolidated Edison, Inc's (NYSE: ED) stock does not reflect the risk to consensus and guidance for yearend and 2021 from elevated COVID-19-related costs, according to Goldman Sachs.The Consolidated Edison Analyst: Insoo Kim downgraded Consolidated Edison from Neutral to Sell, while reducing the price target from $86 to $78.The Consolidated Edison Thesis: Consolidated Edison's New York utility, which comprises almost 90% of the company's earnings in 2021, could continue experiencing a negative cash impact, Kim said in the note.He explained that the "potential COVID-19 related cash impact from increasing aged receivables/bad debt, lost customers, and non-collection of late fees could increase financing needs and ultimately weigh on earnings power.""Our analysis points to potential for over $1bn of cash drag in 2H2020-2021, leading to 2%-4% of EPS impact from elevated debt/equity financing," the analyst wrote.Kim added, however, that Utilities are viewed "as relative winners from potential tax reform, while the inflation impact should be manageable based on our GS strategist's forecast of a 2% near-to-medium term level."ED Price Action: Shares of Consolidated Edison had risen by 0.56% to $81.26 at the time of publication Tuesday.Latest Ratings for ED DateFirmActionFromTo Oct 2020Morgan StanleyMaintainsUnderweight Oct 2020Goldman SachsDowngradesNeutralSell Oct 2020Morgan StanleyMaintainsUnderweight View More Analyst Ratings for ED View the Latest Analyst Ratings See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Piper Sandler Upgrades Workday 'Ahead Of Promising 2021 Recovery' * Raymond James Upgrades O'Reilly Automotive On Bright Prospects(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Over the past three months, shares of Consolidated Edison (NYSE: ED) increased by 5.82%. Before having a look at the importance of debt, let us look at how much debt Consolidated Edison has.Consolidated Edison's Debt Based on Consolidated Edison's balance sheet as of August 6, 2020, long-term debt is at $19.15 billion and current debt is at $3.93 billion, amounting to $23.08 billion in total debt. Adjusted for $1.14 billion in cash-equivalents, the company's net debt is at $21.93 billion.Let's define some of the terms we used in the paragraph above. Current debt is the portion of a company's debt which is due within 1 year, while long-term debt is the portion due in more than 1 year. Cash equivalents include cash and any liquid securities with maturity periods of 90 days or less. Total debt equals current debt plus long-term debt minus cash equivalents.To understand the degree of financial leverage a company has, investors look at the debt ratio. Considering Consolidated Edison's $59.08 billion in total assets, the debt-ratio is at 0.39. Generally speaking, a debt-ratio more than one means that a large portion of debt is funded by assets. As the debt-ratio increases, so the does the risk of defaulting on loans, if interest rates were to increase. Different industries have different thresholds of tolerance for debt-ratios. A debt ratio of 35% might be higher for one industry and average for another.Why Debt Is Important Debt is an important factor in the capital structure of a company, and can help it attain growth. Debt usually has a relatively lower financing cost than equity, which makes it an attractive option for executives.However, interest-payment obligations can have an adverse impact on the cash-flow of the company. Equity owners can keep excess profit, generated from the debt capital, when companies use the debt capital for its business operations.Looking for stocks with low debt-to-equity ratios? Check out Benzinga Pro, a market research platform which provides investors with near-instantaneous access to dozens of stock metrics - including debt-to-equity ratio. Click here to learn more.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Price Over Earnings Overview: Consolidated Edison * Benzinga's Top Upgrades, Downgrades For September 14, 2020(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.