Edison International (EIX) Posts Earnings Results, Beats Estimates By $0.10 EPS
Edison International (NYSE:EIX) announced its quarterly earnings results on Monday. The utilities provider reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.10, Yahoo Finance reports. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter last year, the firm earned $1.29 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. Edison International updated its FY17 guidance to $4.27-4.37 EPS.
Edison International (NYSE:EIX) traded up 0.09% during mid-day trading on Tuesday, hitting $79.66. 560,201 shares of the stock traded hands. Edison International has a 12 month low of $67.44 and a 12 month high of $82.82. The stock has a market cap of $25.95 billion, a P/E ratio of 18.84 and a beta of 0.22. The stock has a 50-day moving average price of $78.92 and a 200-day moving average price of $79.40.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Thursday, September 28th. Edison International’s dividend payout ratio is presently 50.82%.
A number of research analysts recently commented on the stock. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $89.00 price target on shares of Edison International in a report on Monday. Bank of America Corporation reaffirmed a “buy” rating and issued a $86.00 price target on shares of Edison International in a report on Tuesday, October 24th. Citigroup Inc. increased their price target on shares of Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, October 17th. Mizuho reaffirmed a “buy” rating and issued a $86.00 price target on shares of Edison International in a report on Monday, October 9th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $84.00 price target on shares of Edison International in a report on Sunday, September 17th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $85.08.
In other news, insider Ronald L. Litzinger sold 224,715 shares of the company’s stock in a transaction that occurred 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 directly owns 14,121 shares in the company, valued at approximately $1,137,305.34. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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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