SunTrust Banks Weighs in on Edison International’s FY2017 Earnings (EIX)
Edison International (NYSE:EIX) – Stock analysts at SunTrust Banks lifted their FY2017 EPS estimates for Edison International in a note issued to investors on Tuesday. SunTrust Banks analyst A. Agha now forecasts that the utilities provider will earn $4.32 per share for the year, up from their prior estimate of $4.24. SunTrust Banks has a “Buy” rating and a $89.00 price objective on the stock. SunTrust Banks also issued estimates for Edison International’s Q4 2017 earnings at $0.92 EPS and Q3 2018 earnings at $1.40 EPS.
A number of other research analysts also recently weighed in on the stock. Bank of America Corporation restated a “buy” rating and set a $86.00 price objective on shares of Edison International in a research report on Tuesday, October 24th. Citigroup Inc. increased their price objective on shares of Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, October 17th. Mizuho restated a “buy” rating and set a $86.00 price objective on shares of Edison International in a research report on Monday, October 9th. Royal Bank Of Canada restated a “buy” rating and set a $84.00 price objective on shares of Edison International in a research report on Sunday, September 17th. Finally, Morgan Stanley increased their price objective on shares of Edison International from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $85.08.
Edison International (NYSE:EIX) last posted its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.10. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 EPS.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th were given a $0.5425 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.17 annualized dividend and a yield of 2.71%. Edison International’s payout ratio is presently 48.98%.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the 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 $1,137,305.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sun Life Financial INC raised its position in Edison International by 16,935.7% in the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock worth $186,000 after acquiring an additional 2,371 shares during the period. TCI Wealth Advisors Inc. raised its position in shares of Edison International by 139.7% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 1,533 shares during the period. OxFORD Asset Management LLP bought a new stake in shares of Edison International during the 2nd quarter valued at $204,000. Shelton Capital Management bought a new stake in shares of Edison International during the 2nd quarter valued at $206,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Edison International during the 2nd quarter valued at $207,000. Institutional investors and hedge funds own 81.63% 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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