Wall Street analysts forecast that Edison International (NYSE:EIX) will post earnings of $0.93 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Edison International’s earnings. The lowest EPS estimate is $0.88 and the highest is $0.97. Edison International posted earnings of $1.01 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 7.9%. The business is expected to issue its next quarterly earnings report after the market closes on Thursday, February 22nd.
According to Zacks, analysts expect that Edison International will report full-year earnings of $4.32 per share for the current year, with EPS estimates ranging from $4.29 to $4.35. For the next financial year, analysts expect that the business will report earnings of $4.26 per share, with EPS estimates ranging from $4.19 to $4.32. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Edison International.
A number of equities research analysts have recently issued reports on EIX shares. SunTrust Banks reissued a “buy” rating and issued a $85.00 price target on shares of Edison International in a research note on Thursday, December 7th. Goldman Sachs Group set a $70.00 price target on shares of Edison International and gave the company a “hold” rating in a research note on Friday, December 15th. Zacks Investment Research downgraded shares of Edison International from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Morgan Stanley reduced their price target on shares of Edison International from $76.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 13th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $74.00 price target on shares of Edison International in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. Edison International has a consensus rating of “Hold” and an average price target of $77.21.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Amica Retiree Medical Trust purchased a new stake in Edison International during the 3rd quarter worth approximately $138,000. Cerebellum GP LLC purchased a new stake in Edison International during the 4th quarter worth approximately $116,000. Captrust Financial Advisors purchased a new stake in Edison International during the 4th quarter worth approximately $126,000. First Command Financial Services Inc. purchased a new stake in Edison International during the 4th quarter worth approximately $154,000. Finally, OxFORD Asset Management LLP purchased a new stake in Edison International during the 2nd quarter worth approximately $204,000. 80.57% of the stock is currently owned by hedge funds and other institutional investors.
Edison International (NYSE EIX) opened at $60.31 on Wednesday. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. The firm has a market cap of $19,890.77, a PE ratio of 13.91, a price-to-earnings-growth ratio of 2.25 and a beta of 0.17. Edison International has a fifty-two week low of $57.63 and a fifty-two week high of $83.38.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, December 29th were paid a dividend of $0.605 per share. This is an increase from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 annualized dividend and a yield of 4.01%. The ex-dividend date was Thursday, December 28th. Edison International’s dividend payout ratio is presently 54.63%.
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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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