Edison International (NYSE:EIX) – Investment analysts at SunTrust Banks dropped their Q4 2018 EPS estimates for shares of Edison International in a research note issued to investors on Tuesday. SunTrust Banks analyst A. Agha now expects that the utilities provider will earn $0.93 per share for the quarter, down from their previous estimate of $1.00. SunTrust Banks has a “Buy” rating and a $89.00 price target 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 equities research analysts also recently commented on EIX. Bank of America Corporation reiterated a “buy” rating and set a $86.00 price objective on shares of Edison International in a research report on Tuesday, October 24th. 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. BMO Capital Markets restated a “buy” rating and issued a $85.00 target price on shares of Edison International in a report on Thursday, August 17th. Finally, Mizuho restated a “buy” rating and issued a $87.00 target price (up previously from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $85.08.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.10. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.53 billion. Edison International had a return on equity of 10.88% and a net margin of 13.18%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share.
Institutional investors have recently bought and sold shares of the business. Sun Life Financial INC increased its position in Edison International by 16,935.7% during the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock worth $186,000 after buying an additional 2,371 shares during the last quarter. TCI Wealth Advisors Inc. increased its position in Edison International by 139.7% during the third quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock worth $203,000 after buying an additional 1,533 shares during the last quarter. OxFORD Asset Management LLP acquired a new position in Edison International during the second quarter worth $204,000. Shelton Capital Management acquired a new position in Edison International during the second quarter worth $206,000. Finally, Great Lakes Advisors LLC acquired a new position in Edison International during the second quarter worth $207,000. 81.63% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Ronald L. Litzinger sold 224,715 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the completion of the sale, the insider now directly owns 14,121 shares in the company, valued at $1,137,305.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were issued a dividend of $0.5425 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.17 annualized dividend and a dividend yield of 2.71%. Edison International’s dividend payout ratio is 48.98%.
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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