Analysts predict that Edison International (NYSE:EIX) will report $2.88 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Edison International’s earnings, with the highest sales estimate coming in at $2.96 billion and the lowest estimate coming in at $2.79 billion. Edison International also posted sales of $2.88 billion during the same quarter last year. The company is scheduled to issue its next earnings results after the market closes on Thursday, February 22nd.
According to Zacks, analysts expect that Edison International will report full-year sales of $2.88 billion for the current fiscal year, with estimates ranging from $11.89 billion to $12.56 billion. For the next financial year, analysts expect that the company will post sales of $12.48 billion per share, with estimates ranging from $11.95 billion to $13.19 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Edison International.
Several equities analysts recently issued reports on EIX shares. ValuEngine raised Edison International from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. SunTrust Banks reaffirmed a “buy” rating and set a $89.00 price objective on shares of Edison International in a report on Monday, October 30th. Bank of America reaffirmed a “buy” rating and set a $86.00 price objective on shares of Edison International in a report on Tuesday, October 24th. Mizuho reaffirmed a “buy” rating and set a $86.00 price objective on shares of Edison International in a report on Monday, October 9th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $74.00 price objective on shares of Edison International in a report on Friday, December 22nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $78.57.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th were given a dividend of $0.605 per share. This is an increase from Edison International’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, December 28th. This represents a $2.42 annualized dividend and a yield of 4.00%. Edison International’s dividend payout ratio (DPR) is presently 54.63%.
In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the completion of the transaction, the insider now owns 14,121 shares of the company’s stock, valued at $1,157,922. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.41% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in EIX. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Edison International by 3.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 50,567 shares of the utilities provider’s stock valued at $3,173,000 after purchasing an additional 1,802 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund grew its position in shares of Edison International by 32.6% in the fourth quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund now owns 244,000 shares of the utilities provider’s stock valued at $15,431,000 after purchasing an additional 60,000 shares during the period. First Mercantile Trust Co. purchased a new stake in shares of Edison International in the fourth quarter valued at $402,000. Public Employees Retirement Association of Colorado grew its position in shares of Edison International by 5.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 59,562 shares of the utilities provider’s stock valued at $3,767,000 after purchasing an additional 2,920 shares during the period. Finally, Greenwood Capital Associates LLC purchased a new stake in shares of Edison International in the fourth quarter valued at $253,000. 80.09% of the stock is owned by institutional investors.
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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