Edison International (EIX) Declares Quarterly Dividend of $0.36
Edison International (NYSE:EIX) declared a quarterly dividend on Thursday, August 28th, AR Network reports. Shareholders of record on Tuesday, September 30th will be given a dividend of 0.355 per share on Friday, October 31st. This represents a $1.42 dividend on an annualized basis and a yield of 2.43%.
A number of analysts have recently weighed in on EIX shares. 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, August 22nd. They now have a $64.00 price target on the stock, up previously from $59.00. On the ratings front, 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. The stock presently has a consensus rating of “Buy” and an average price target of $60.91.
Edison International (NYSE:EIX) traded up 0.21% on Thursday, hitting $58.47. The stock had a trading volume of 1,733,939 shares. Edison International has a 52-week low of $44.26 and a 52-week high of $59.18. The stock’s 50-day moving average is $56.85 and its 200-day moving average is $55.22. The company has a market cap of $19.050 billion and a P/E ratio of 13.24.
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.
In other Edison International news, VP Robert L. Adler sold 100,962 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $57.39, for a total value of $5,794,209.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Edison International, is a holding company of Southern California Edison Company (NYSE:EIX).
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