Edison International (EIX) to Release Quarterly Earnings on Monday
Edison International (NYSE:EIX) will issue its quarterly earnings data after the market closes on Monday, October 30th. Analysts expect the company to announce earnings of $1.30 per share for the quarter. Edison International has set its FY17 guidance at $4.13-4.33 EPS.
Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.85. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.92 billion. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. On average, analysts expect Edison International to post $4.24 EPS for the current fiscal year and $4.3 EPS for the next fiscal year.
Edison International (EIX) opened at 79.60 on Monday. The stock’s 50 day moving average price is $79.00 and its 200-day moving average price is $79.45. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82. The company has a market cap of $25.93 billion, a price-to-earnings ratio of 18.82 and a beta of 0.22.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.5425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.73%. Edison International’s dividend payout ratio (DPR) is presently 50.82%.
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A number of equities research analysts have issued reports on EIX shares. BidaskClub cut shares of Edison International from a “hold” rating to a “sell” rating in a report on Sunday, June 25th. SunTrust Banks, Inc. reissued a “buy” rating and set a $89.00 target price on shares of Edison International in a report on Monday, October 2nd. Zacks Investment Research cut shares of Edison International from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Morgan Stanley reissued an “equal weight” rating on shares of Edison International in a report on Tuesday, July 11th. Finally, Jefferies Group LLC raised shares of Edison International from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $90.00 in a report on Friday, August 11th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Edison International presently has a consensus rating of “Hold” and an average target price of $85.00.
In other news, insider Ronald L. Litzinger sold 224,715 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total value of $18,098,546.10. Following the transaction, the insider now owns 14,121 shares of the company’s stock, valued at $1,137,305.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate 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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