Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users. Its transmission facilities consist of lines ranging from 55 kV to 500 kV and substations; and distribution system consists of approximately 39,000 circuit-miles of overhead lines, approximately 31,000 circuit-miles of underground lines, and 800 substations. The company was founded in 1886 and is headquartered in Rosemead, California.
Edison International Stock Up 0.8 %
Shares of EIX traded up $0.60 during mid-day trading on Monday, reaching $71.35. The company had a trading volume of 58,252 shares, compared to its average volume of 1,935,767. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.61. The firm has a 50-day moving average price of $64.03 and a 200 day moving average price of $65.74. Edison International has a 52 week low of $54.98 and a 52 week high of $73.32. The company has a market capitalization of $27.22 billion, a price-to-earnings ratio of 53.60, a price-to-earnings-growth ratio of 5.39 and a beta of 0.68.
Edison International (NYSE:EIX - Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The utilities provider reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.04. The firm had revenue of $4.01 billion for the quarter, compared to analysts' expectations of $3.57 billion. Edison International had a return on equity of 12.42% and a net margin of 3.63%. The business's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 EPS. On average, sell-side analysts forecast that Edison International will post 4.42 EPS for the current year.
Edison International Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, July 31st. Investors of record on Tuesday, July 5th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, July 1st. This represents a $2.80 annualized dividend and a yield of 3.92%. Edison International's dividend payout ratio (DPR) is presently 212.12%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on EIX. UBS Group reduced their price target on Edison International from $73.00 to $68.00 and set a "neutral" rating on the stock in a report on Thursday, June 30th. Mizuho downgraded Edison International from a "buy" rating to a "neutral" rating and reduced their price target for the company from $82.00 to $72.00 in a report on Tuesday, May 10th. Bank of America reiterated an "underperform" rating on shares of Edison International in a report on Thursday, July 14th. Citigroup upped their target price on Edison International from $67.00 to $79.00 in a report on Wednesday, May 4th. Finally, Barclays reduced their target price on Edison International from $73.00 to $67.00 and set an "equal weight" rating on the stock in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $72.56.