Edison International (NYSE:EIX) – Research analysts at SunTrust Banks reduced their Q2 2018 earnings per share estimates for shares of Edison International in a report issued on Friday. SunTrust Banks analyst A. Agha now forecasts that the utilities provider will earn $0.87 per share for the quarter, down from their prior forecast of $0.89. SunTrust Banks also issued estimates for Edison International’s FY2018 earnings at $4.33 EPS, Q1 2019 earnings at $1.23 EPS, Q2 2019 earnings at $0.94 EPS and FY2019 earnings at $4.69 EPS.
Several other brokerages have also recently commented on EIX. BidaskClub upgraded shares of Edison International from a “sell” rating to a “hold” rating in a report on Monday, June 19th. Mizuho reiterated a “buy” rating and issued a $91.50 target price on shares of Edison International in a report on Wednesday, April 19th. Barclays PLC reiterated an “equal weight” rating and issued a $84.00 target price (up from $78.00) on shares of Edison International in a report on Sunday, April 23rd. Deutsche Bank AG raised their target price on shares of Edison International from $79.00 to $81.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $83.00 target price (up from $80.00) on shares of Edison International in a report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $83.46.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share.
In related news, Director W Brett White sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $81.67, for a total transaction of $204,175.00. Following the transaction, the director now owns 2,500 shares of the company’s stock, valued at $204,175. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ronald L. Litzinger sold 26,035 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $78.85, for a total transaction of $2,052,859.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,035 shares of company stock valued at $2,460,285. 0.41% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL raised its position in shares of Edison International by 79.9% in the first quarter. Tudor Investment Corp ET AL now owns 10,077 shares of the utilities provider’s stock valued at $802,000 after buying an additional 4,477 shares during the last quarter. BlackRock Inc. raised its position in shares of Edison International by 2,416.6% in the first quarter. BlackRock Inc. now owns 24,389,198 shares of the utilities provider’s stock valued at $1,941,622,000 after buying an additional 23,420,049 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Edison International by 259.9% in the first quarter. Meeder Asset Management Inc. now owns 44,368 shares of the utilities provider’s stock valued at $3,532,000 after buying an additional 32,041 shares during the last quarter. Brighton Jones LLC acquired a new position in shares of Edison International during the first quarter valued at $235,000. Finally, West Oak Capital LLC raised its position in shares of Edison International by 34.5% in the first quarter. West Oak Capital LLC now owns 2,992 shares of the utilities provider’s stock valued at $238,000 after buying an additional 767 shares during the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.
About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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