Edison International (NYSE:EIX) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.13-4.33 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.21.
Shares of Edison International (NYSE EIX) opened at 79.29 on Monday. Edison International has a 12 month low of $67.44 and a 12 month high of $82.82. The stock’s 50 day moving average price is $78.84 and its 200 day moving average price is $78.37. The stock has a market capitalization of $25.83 billion, a price-to-earnings ratio of 18.75 and a beta of 0.22.
Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. Analysts expect that Edison International will post $4.24 EPS for the current year.
EIX has been the topic of a number of research analyst reports. Deutsche Bank AG upped their price target on Edison International from $79.00 to $81.00 and gave the company a hold rating in a report on Tuesday, April 11th. Mizuho reaffirmed a buy rating and set a $91.50 price target on shares of Edison International in a report on Wednesday, April 19th. Barclays PLC reissued an equal weight rating and issued a $84.00 target price (up previously from $78.00) on shares of Edison International in a report on Sunday, April 23rd. Jefferies Group LLC reissued a hold rating and issued a $83.00 target price (up previously from $80.00) on shares of Edison International in a report on Tuesday, May 2nd. Finally, BMO Capital Markets reissued an outperform rating and issued a $85.00 target price (up previously from $82.00) on shares of Edison International in a report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $83.46.
In other Edison International news, insider Ronald L. Litzinger sold 26,035 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $78.85, for a total transaction of $2,052,859.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gaddi H. Vasquez sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $81.30, for a total value of $203,250.00. Following the transaction, the insider now owns 4,550 shares of the company’s stock, valued at approximately $369,915. The disclosure for this sale can be found here. Insiders have sold 31,035 shares of company stock valued at $2,460,285 in the last quarter. 0.41% of the stock is currently owned by company insiders.
ILLEGAL ACTIVITY NOTICE: “Edison International (NYSE:EIX) Releases FY17 Earnings Guidance” was posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://stocknewstimes.com/2017/08/07/edison-international-nyseeix-updates-fy17-earnings-guidance-updated.html.
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.
Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.
