Edison International (NYSE:EIX) announced a quarterly dividend on Thursday, February 23rd. Shareholders of record on Friday, March 31st will be paid a dividend of 0.5425 per share on Sunday, April 30th. This represents a $2.17 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Wednesday, March 29th.
Shares of Edison International (NYSE:EIX) opened at 80.50 on Tuesday. Edison International has a 12 month low of $67.44 and a 12 month high of $81.33. The firm’s 50-day moving average price is $77.90 and its 200-day moving average price is $73.02. The firm has a market cap of $26.23 billion, a PE ratio of 20.25 and a beta of 0.15.
Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, February 21st. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.07. Edison International had a return on equity of 9.59% and a net margin of 8.80%. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the prior year, the firm earned $0.88 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. Analysts expect that Edison International will post $4.13 earnings per share for the current year.
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In related news, insider Ronald L. Litzinger sold 26,035 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $74.64, for a total value of $1,943,252.40. Following the transaction, the insider now owns 11,354 shares of the company’s stock, valued at $847,462.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vanessa C. L. Chang sold 2,500 shares of the stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $79.03, for a total value of $197,575.00. Following the completion of the transaction, the director now directly owns 2,500 shares in the company, valued at approximately $197,575. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company’s stock.
EIX has been the topic of a number of recent research reports. Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research report on Tuesday, January 3rd. Royal Bank of Canada reaffirmed a “buy” rating and set a $84.00 price objective on shares of Edison International in a research report on Friday, February 24th. Barclays PLC cut their price objective on Edison International from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 8th. Finally, Evercore ISI raised Edison International from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Thursday, January 19th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $78.71.
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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