Edison International (NYSE:EIX) Updates FY17 Earnings Guidance
Edison International (NYSE:EIX) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $4.13-4.33 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.21.
Several research firms have issued reports on EIX. BidaskClub upgraded shares of Edison International from a sell rating to a hold rating in a report on Monday, June 19th. Mizuho restated a buy rating and set a $91.50 price target on shares of Edison International in a report on Wednesday, April 19th. Barclays PLC restated an equal weight rating and set a $84.00 price target (up previously from $78.00) on shares of Edison International in a report on Sunday, April 23rd. Deutsche Bank AG raised their price target on shares of Edison International from $79.00 to $81.00 and gave the stock a hold rating in a report on Tuesday, April 11th. Finally, Jefferies Group LLC restated a hold rating and set a $83.00 price target (up previously from $80.00) on shares of Edison International in a report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $83.29.
Shares of Edison International (EIX) opened at 79.22 on Friday. The firm’s 50-day moving average is $79.05 and its 200-day moving average is $78.13. The company has a market cap of $25.81 billion, a price-to-earnings ratio of 18.76 and a beta of 0.22. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82.
Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The company 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 last year, the company earned $0.85 EPS. Equities research analysts predict that Edison International will post $4.21 earnings per share for the current year.
In related news, Director W Brett White sold 2,500 shares of Edison International stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $81.67, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ronald L. Litzinger sold 26,035 shares of Edison International stock in a transaction that occurred on Monday, May 15th. The shares were 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. Insiders have sold a total of 31,035 shares of company stock worth $2,460,285 in the last three months. 0.41% of the stock is owned by corporate insiders.
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Edison International Company Profile
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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