Edison International (EIX) Expected to Post Earnings of $0.85 Per Share
Wall Street analysts predict that Edison International (NYSE:EIX) will report earnings per share (EPS) of $0.85 for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Edison International’s earnings. The highest EPS estimate is $0.89 and the lowest is $0.78. Edison International also posted earnings of $0.85 per share during the same quarter last year. The company is expected to announce its next quarterly earnings results on Thursday, July 27th.
On average, 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 forecast that the business will post earnings of $4.31 per share, with EPS estimates ranging from $4.20 to $4.43. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Edison International.
Edison International (NYSE:EIX) last announced its earnings results on Monday, May 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.21. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.71 billion. Edison International had a net margin of 12.82% and a return on equity of 10.78%. Edison International’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share.
A number of research firms have recently commented on EIX. BidaskClub raised shares of Edison International from a “sell” rating to a “hold” rating in a research note on Monday. Mizuho reaffirmed a “buy” rating and set a $91.50 price objective on shares of Edison International in a research note on Wednesday, April 19th. Barclays PLC reaffirmed an “equal weight” rating and set a $84.00 price objective (up previously from $78.00) on shares of Edison International in a research note on Sunday, April 23rd. Deutsche Bank AG upped their price objective 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. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $83.00 price objective (up previously from $80.00) on shares of Edison International in a research note on Tuesday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Edison International currently has an average rating of “Hold” and an average price target of $82.41.
In other news, insider Gaddi H. Vasquez sold 3,657 shares of the business’s 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 completion of the sale, the insider now owns 7,466 shares in the company, valued at approximately $597,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Brett White sold 2,500 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $81.67, for a total value of $204,175.00. Following the sale, the director now owns 2,500 shares of the company’s stock, valued at approximately $204,175. The disclosure for this sale can be found here. Insiders have sold a total of 34,692 shares of company stock valued at $2,752,845 in the last quarter. Company insiders own 0.41% of the company’s stock.
Several hedge funds have recently modified their holdings of EIX. Vanguard Group Inc. boosted its stake in shares of Edison International by 4.8% in the first quarter. Vanguard Group Inc. now owns 26,875,989 shares of the utilities provider’s stock worth $2,139,597,000 after buying an additional 1,239,752 shares during the last quarter. BlackRock Inc. boosted its stake 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 worth $1,941,622,000 after buying an additional 23,420,049 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Edison International by 8.6% in the fourth quarter. Macquarie Group Ltd. now owns 11,222,827 shares of the utilities provider’s stock worth $807,931,000 after buying an additional 885,507 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Edison International by 6.1% in the first quarter. Alliancebernstein L.P. now owns 5,733,802 shares of the utilities provider’s stock worth $456,468,000 after buying an additional 330,071 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Edison International during the fourth quarter worth about $300,299,000. Institutional investors and hedge funds own 82.45% of the company’s stock.
Shares of Edison International (NYSE EIX) traded down 0.34% on Wednesday, reaching $81.50. 239,676 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $80.11 and its 200-day moving average price is $76.92. The stock has a market capitalization of $26.55 billion, a price-to-earnings ratio of 19.30 and a beta of 0.23. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be issued a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Wednesday, June 28th. Edison International’s payout ratio is currently 50.94%.
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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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