News articles about Edison International (NYSE:EIX) have trended somewhat positive on Friday, Accern reports. The research group identifies positive and negative news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Edison International earned a coverage optimism score of 0.20 on Accern’s scale. Accern also assigned news stories about the utilities provider an impact score of 46.5785821471152 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Here are some of the news stories that may have effected Accern’s rankings:
- Sempra Energy Aims for Above-Average Dividend Growth (finance.yahoo.com)
- Edison International Is California Dreamin’ (seekingalpha.com)
- Zacks: Brokerages Expect Edison International (EIX) to Announce $1.31 Earnings Per Share (americanbankingnews.com)
- San Onofre Community Engagement Panel to Discuss Used Nuclear Fuel Storage (finance.yahoo.com)
- SCE Gets Ontario Charged Up for National Drive Electric Week (finance.yahoo.com)
Shares of Edison International (NYSE EIX) traded up 0.21% during mid-day trading on Friday, hitting $81.20. The stock had a trading volume of 3,039,441 shares. The stock has a market cap of $26.46 billion, a P/E ratio of 19.20 and a beta of 0.24. The stock has a 50-day moving average price of $79.95 and a 200 day moving average price of $79.65. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82.
Edison International (NYSE:EIX) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.85. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. On average, equities analysts forecast that Edison International will post $4.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, September 28th. Edison International’s dividend payout ratio is 50.82%.
A number of brokerages have commented on EIX. Jefferies Group LLC upgraded Edison International from a “hold” rating to a “buy” rating and increased their target price for the company from $85.00 to $90.00 in a report on Friday, August 11th. Morgan Stanley increased their target price on Edison International from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Mizuho reiterated a “buy” rating and set a $87.00 target price (up previously from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. BMO Capital Markets reissued a “buy” rating and set a $85.00 price target on shares of Edison International in a research note on Thursday, August 17th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $84.00 price target (down previously from $85.00) on shares of Edison International in a research note on Monday, July 24th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Edison International has a consensus rating of “Hold” and an average target price of $84.15.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the completion of the transaction, the insider now owns 14,121 shares of the company’s stock, valued at approximately $1,137,305.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is owned by insiders.
Edison International Company Profile
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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