Edison International (NYSE:EIX) updated its FY17 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $4.27-4.37 for the period, compared to the Thomson Reuters consensus estimate of $4.22.
A number of brokerages recently issued reports on EIX. Royal Bank Of Canada reissued a buy rating and set a $84.00 price objective on shares of Edison International in a report on Sunday, September 17th. Morgan Stanley increased their price objective on Edison International from $90.00 to $92.00 and gave the stock an equal weight rating in a report on Friday, September 8th. Mizuho reissued a buy rating and set a $87.00 price objective (up previously from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Bank of America Corporation reissued a buy rating and set a $86.00 price objective on shares of Edison International in a report on Tuesday, October 24th. Finally, BidaskClub raised Edison International from a sell rating to a hold rating in a report on Tuesday, August 22nd. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Edison International presently has an average rating of Hold and a consensus target price of $85.08.
Shares of Edison International (NYSE EIX) opened at 79.95 on Wednesday. Edison International has a 12-month low of $67.44 and a 12-month high of $82.82. The firm has a 50 day moving average price of $78.88 and a 200 day moving average price of $79.40. The stock has a market cap of $26.05 billion, a PE ratio of 18.91 and a beta of 0.22.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.10. Edison International had a return on equity of 10.88% and a net margin of 13.18%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the previous year, the business earned $1.29 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. On average, equities analysts expect that Edison International will post $4.23 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were given a $0.5425 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.17 annualized dividend and a dividend yield of 2.71%. Edison International’s payout ratio is 48.98%.
In other news, insider Ronald L. Litzinger sold 224,715 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total value of $18,098,546.10. Following the transaction, the insider now directly owns 14,121 shares in the company, valued at $1,137,305.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by insiders.
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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