Edison International Forecasted to Post Q1 2017 Earnings of $0.85 Per Share (EIX)
Edison International (NYSE:EIX) – Research analysts at Jefferies Group raised their Q1 2017 earnings per share (EPS) estimates for Edison International in a research report issued on Thursday. Jefferies Group analyst A. Crowdell now anticipates that the utilities provider will earn $0.85 per share for the quarter, up from their prior forecast of $0.80.
Other analysts also recently issued reports about the company. Deutsche Bank AG raised their target price on Edison International from $79.00 to $81.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Mizuho restated a “buy” rating and issued a $91.50 target price on shares of Edison International in a research note on Wednesday. Evercore ISI restated a “hold” rating on shares of Edison International in a research note on Friday, January 20th. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating in a research note on Monday, January 30th. Finally, Royal Bank of Canada set a $81.00 target price on Edison International and gave the company a “buy” rating in a research note on Wednesday, January 4th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $81.14.
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Edison International (NYSE:EIX) opened at 80.31 on Friday. The company has a market cap of $26.17 billion, a P/E ratio of 20.20 and a beta of 0.15. The firm has a 50-day moving average price of $79.81 and a 200 day moving average price of $73.87. Edison International has a 12 month low of $67.44 and a 12 month high of $81.33.
Edison International (NYSE:EIX) last posted its earnings results on Tuesday, February 21st. The utilities provider reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.07. The business earned $2.88 billion during the quarter, compared to the consensus estimate of $3.40 billion. Edison International had a return on equity of 9.59% and a net margin of 8.80%. Edison International’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS.
Institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its stake in Edison International by 0.5% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,912 shares of the utilities provider’s stock worth $210,000 after buying an additional 14 shares during the period. Miller Howard Investments Inc. NY boosted its stake in Edison International by 0.7% in the third quarter. Miller Howard Investments Inc. NY now owns 24,997 shares of the utilities provider’s stock worth $1,806,000 after buying an additional 166 shares during the period. Conning Inc. boosted its stake in Edison International by 3.8% in the third quarter. Conning Inc. now owns 8,277 shares of the utilities provider’s stock worth $598,000 after buying an additional 300 shares during the period. State of Alaska Department of Revenue boosted its stake in Edison International by 6.1% in the third quarter. State of Alaska Department of Revenue now owns 16,569 shares of the utilities provider’s stock worth $1,197,000 after buying an additional 956 shares during the period. Finally, Commonwealth Equity Services Inc boosted its stake in Edison International by 1.3% in the third quarter. Commonwealth Equity Services Inc now owns 43,038 shares of the utilities provider’s stock worth $3,109,000 after buying an additional 544 shares during the period. 81.30% of the stock is currently owned by hedge funds and other institutional investors.
In other Edison International news, insider Gaddi H. Vasquez sold 3,657 shares of Edison International stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $80.00, for a total transaction of $292,560.00. Following the transaction, the insider now owns 7,466 shares of the company’s stock, valued at approximately $597,280. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ronald L. Litzinger sold 26,035 shares of Edison International stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $74.64, for a total transaction of $1,943,252.40. Following the transaction, the insider now directly owns 11,354 shares in the company, valued at approximately $847,462.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,192 shares of company stock worth $2,433,387. Insiders own 1.51% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders of record on Friday, March 31st will be given a dividend of $0.5425 per share. The ex-dividend date is Wednesday, March 29th. This represents a $2.17 annualized dividend and a dividend yield of 2.70%. Edison International’s dividend payout ratio is currently 80.67%.
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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