Edison International (EIX) to Post Q4 2018 Earnings of $0.93 Per Share, SunTrust Banks Forecasts
Edison International (NYSE:EIX) – Equities research analysts at SunTrust Banks reduced their Q4 2018 EPS estimates for shares of Edison International in a research report issued on Tuesday. SunTrust Banks analyst A. Agha now anticipates that the utilities provider will post earnings of $0.93 per share for the quarter, down from their prior estimate of $1.00. SunTrust Banks has a “Buy” rating and a $89.00 price objective on the stock. SunTrust Banks also issued estimates for Edison International’s Q1 2019 earnings at $1.22 EPS and Q3 2019 earnings at $1.51 EPS.
A number of other research analysts have also recently weighed in on the stock. Bank of America Corporation restated a “buy” rating and set a $86.00 target price on shares of Edison International in a research note on Tuesday, October 24th. Citigroup Inc. lifted their target price on shares of Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, October 17th. Mizuho restated a “buy” rating and set a $86.00 target price on shares of Edison International in a research note on Monday, October 9th. Royal Bank Of Canada restated a “buy” rating and set a $84.00 target price on shares of Edison International in a research note on Sunday, September 17th. Finally, Morgan Stanley lifted their target price on shares of Edison International from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $85.08.
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Edison International (NYSE:EIX) traded up $0.65 on Wednesday, hitting $79.73. 526,507 shares of the company were exchanged, compared to its average volume of 1,776,540. The company has a market cap of $25,761.89, a PE ratio of 18.01 and a beta of 0.24.
Edison International (NYSE:EIX) last released its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the previous year, the company earned $1.29 EPS. Edison International’s revenue for the quarter was down 2.5% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were issued a $0.5425 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.72%. Edison International’s dividend payout ratio (DPR) is presently 48.98%.
In other news, insider Ronald L. Litzinger sold 224,715 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 14,121 shares in the company, valued at approximately $1,137,305.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.41% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Edison International by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 27,363,702 shares of the utilities provider’s stock worth $2,139,568,000 after buying an additional 487,713 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Edison International by 1.1% in the 2nd quarter. BlackRock Inc. now owns 24,659,823 shares of the utilities provider’s stock worth $1,928,152,000 after buying an additional 270,625 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Edison International by 3.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock worth $1,197,430,000 after buying an additional 526,261 shares during the last quarter. Boston Partners increased its holdings in shares of Edison International by 4.2% in the 2nd quarter. Boston Partners now owns 3,736,312 shares of the utilities provider’s stock worth $292,142,000 after buying an additional 151,153 shares during the last quarter. Finally, FIL Ltd increased its holdings in shares of Edison International by 12.1% in the 2nd quarter. FIL Ltd now owns 2,789,016 shares of the utilities provider’s stock worth $218,073,000 after buying an additional 301,131 shares during the last quarter. Hedge funds and other institutional investors 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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