$0.85 Earnings Per Share Expected for Edison International (EIX) This Quarter
Equities research analysts expect Edison International (NYSE:EIX) to post $0.85 earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Edison International’s earnings, with the highest EPS estimate coming in at $0.89 and the lowest estimate coming in at $0.78. Edison International also reported earnings of $0.85 per share in the same quarter last year. The firm is scheduled to report its next quarterly earnings report on Thursday, July 27th.
According to Zacks, analysts expect that Edison International will report full year earnings of $4.20 per share for the current financial year, with EPS estimates ranging from $4.15 to $4.25. For the next financial year, analysts anticipate that the firm will report earnings of $4.31 per share, with EPS estimates ranging from $4.20 to $4.43. Zacks’ EPS averages are an average based on a survey of research analysts that cover Edison International.
Edison International (NYSE:EIX) last announced its earnings results on Monday, May 1st. The utilities provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.89 by $0.21. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.71 billion. Edison International had a net margin of 8.80% and a return on equity of 9.59%. Edison International’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 EPS.
Several research firms have issued reports on EIX. Mizuho restated a “buy” rating and set a $91.50 target price on shares of Edison International in a research note on Wednesday, April 19th. Barclays PLC restated an “equal weight” rating and set a $84.00 target price (up previously from $78.00) on shares of Edison International in a research note on Sunday, April 23rd. Deutsche Bank AG upped their target price on shares of Edison International from $79.00 to $81.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Jefferies Group LLC restated a “hold” rating and set a $83.00 target price (up previously from $80.00) on shares of Edison International in a research note on Tuesday, May 2nd. Finally, BMO Capital Markets restated an “outperform” rating and set a $85.00 target price (up previously from $82.00) on shares of Edison International in a research note on Wednesday, May 3rd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $82.41.
Edison International (NYSE:EIX) traded up 0.106% during mid-day trading on Friday, reaching $80.035. 117,927 shares of the company’s stock were exchanged. The stock has a market cap of $26.08 billion, a price-to-earnings ratio of 18.957 and a beta of 0.15. The company has a 50-day moving average of $79.62 and a 200-day moving average of $75.36. Edison International has a 52-week low of $67.44 and a 52-week high of $81.34.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be paid a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a yield of 2.71%. The ex-dividend date is Wednesday, June 28th. Edison International’s payout ratio is 80.67%.
In related news, insider Gaddi H. Vasquez sold 3,657 shares of the stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $80.00, for a total transaction of $292,560.00. Following the transaction, the insider now owns 7,466 shares of the company’s stock, valued at approximately $597,280. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Vanessa C. L. Chang sold 2,500 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $79.03, for a total value of $197,575.00. Following the transaction, the director now directly owns 2,500 shares in the company, valued at approximately $197,575. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,192 shares of company stock worth $2,542,995. 1.51% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of EIX. Guardian Life Insurance Co. of America raised its position in Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after buying an additional 8 shares during the last quarter. Parallel Advisors LLC purchased a new position in Edison International during the fourth quarter valued at about $128,000. JNBA Financial Advisors raised its position in Edison International by 823.9% in the fourth quarter. JNBA Financial Advisors now owns 1,820 shares of the utilities provider’s stock valued at $131,000 after buying an additional 1,623 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in Edison International during the third quarter valued at about $137,000. Finally, Jones Collombin Investment Counsel Inc raised its position in Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock valued at $139,000 after buying an additional 715 shares during the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.
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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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