Edison International VP Unloads $5,794,209 in Stock (EIX)
Edison International (NYSE:EIX) VP Robert L. Adler sold 100,962 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $57.39, for a total value of $5,794,209.18. Following the transaction, the vice president now directly owns 19,160 shares of the company’s stock, valued at approximately $1,099,592. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Edison International (NYSE:EIX) traded up 0.86% during mid-day trading on Friday, hitting $58.82. 154,704 shares of the company’s stock traded hands. Edison International has a one year low of $44.26 and a one year high of $59.18. The stock’s 50-day moving average is $56.62 and its 200-day moving average is $54.89. The company has a market cap of $19.164 billion and a P/E ratio of 13.23.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.08 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.78 by $0.30. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the company posted $0.79 earnings per share. Edison International’s revenue was down 1.0% compared to the same quarter last year. Analysts expect that Edison International will post $3.87 EPS for the current fiscal year.
EIX has been the subject of a number of recent research reports. Analysts at BMO Capital Markets upgraded shares of Edison International from a “market perform” rating to an “outperform” rating in a research note on Friday. They now have a $64.00 price target on the stock, up previously from $59.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Edison International in a research note on Monday, July 28th. They now have a $59.00 price target on the stock. Finally, analysts at Argus upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research note on Friday, July 25th. They now have a $65.00 price target on the stock. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Edison International presently has an average rating of “Buy” and an average target price of $60.91.
Edison International, is a holding company of Southern California Edison Company (NYSE:EIX).
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