Edison International (NYSE:EIX) Issues Quarterly Earnings Results
Edison International (NYSE:EIX) posted its quarterly earnings data on Thursday. The utilities provider reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.90 by $0.05, Bloomberg Earnings reports. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a return on equity of 10.78% and a net margin of 12.82%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. Edison International updated its FY17 guidance to $4.13-4.33 EPS.
Shares of Edison International (NYSE:EIX) traded up 0.39% during trading on Thursday, hitting $79.22. The stock had a trading volume of 1,312,466 shares. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82. The firm has a 50-day moving average price of $79.13 and a 200 day moving average price of $78.12. The company has a market capitalization of $25.81 billion, a PE ratio of 18.76 and a beta of 0.22.
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EIX has been the topic of a number of recent analyst reports. Mizuho restated a “buy” rating and issued a $91.50 price target on shares of Edison International in a research report on Wednesday, April 19th. BMO Capital Markets restated an “outperform” rating and issued a $85.00 price target (up previously from $82.00) on shares of Edison International in a research report on Wednesday, May 3rd. Wolfe Research cut Edison International from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 11th. Barclays PLC restated an “equal weight” rating and issued a $84.00 price target (up previously from $78.00) on shares of Edison International in a research report on Sunday, April 23rd. Finally, Deutsche Bank AG raised their price target on Edison International from $79.00 to $81.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $83.29.
In other news, insider Gaddi H. Vasquez sold 2,500 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $81.30, for a total value of $203,250.00. Following the transaction, the insider now directly owns 4,550 shares in the company, valued at approximately $369,915. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ronald L. Litzinger sold 26,035 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $78.85, for a total value of $2,052,859.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,035 shares of company stock worth $2,460,285. Company insiders own 0.41% of the company’s stock.
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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