Edison International (NYSE:EIX) Expected to Post Quarterly Sales of $3.44 Billion

Wall Street analysts predict that Edison International (NYSE:EIXGet Rating) will announce sales of $3.44 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Edison International’s earnings. The lowest sales estimate is $3.41 billion and the highest is $3.45 billion. Edison International reported sales of $3.32 billion during the same quarter last year, which would suggest a positive year over year growth rate of 3.6%. The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Edison International will report full year sales of $15.25 billion for the current financial year, with estimates ranging from $15.05 billion to $15.35 billion. For the next fiscal year, analysts expect that the firm will report sales of $15.72 billion, with estimates ranging from $15.40 billion to $15.95 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Edison International.

Edison International (NYSE:EIXGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The utilities provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.26. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Edison International had a return on equity of 12.24% and a net margin of 4.22%. The business’s revenue was up 34.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share.

Several brokerages have recently commented on EIX. Royal Bank of Canada increased their target price on Edison International from $73.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, April 14th. Morgan Stanley decreased their target price on Edison International from $66.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 26th. StockNews.com began coverage on Edison International in a report on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company increased their target price on Edison International from $70.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, March 30th. Finally, Citigroup raised their price target on Edison International from $67.00 to $79.00 in a report on Wednesday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Edison International has an average rating of “Buy” and an average price target of $72.38.

A number of large investors have recently added to or reduced their stakes in the business. Capital Research Global Investors lifted its stake in Edison International by 28.5% in the fourth quarter. Capital Research Global Investors now owns 21,567,094 shares of the utilities provider’s stock valued at $1,471,953,000 after buying an additional 4,777,038 shares during the period. Pzena Investment Management LLC lifted its stake in Edison International by 1.3% in the fourth quarter. Pzena Investment Management LLC now owns 14,875,516 shares of the utilities provider’s stock valued at $1,015,254,000 after buying an additional 188,761 shares during the period. Capital International Investors lifted its stake in Edison International by 360.4% in the fourth quarter. Capital International Investors now owns 12,519,754 shares of the utilities provider’s stock valued at $854,473,000 after buying an additional 9,800,598 shares during the period. Deutsche Bank AG lifted its stake in Edison International by 7.8% in the fourth quarter. Deutsche Bank AG now owns 9,580,805 shares of the utilities provider’s stock valued at $653,891,000 after buying an additional 691,686 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Edison International by 55.2% in the fourth quarter. JPMorgan Chase & Co. now owns 9,421,287 shares of the utilities provider’s stock valued at $643,004,000 after buying an additional 3,349,315 shares during the period. 87.89% of the stock is currently owned by hedge funds and other institutional investors.

Shares of EIX stock opened at $70.30 on Friday. The stock’s fifty day moving average is $68.68 and its 200-day moving average is $65.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.59 and a current ratio of 0.64. The stock has a market capitalization of $26.77 billion, a PE ratio of 45.95, a PEG ratio of 3.89 and a beta of 0.64. Edison International has a 52 week low of $54.14 and a 52 week high of $73.32.

The company also recently declared a quarterly dividend, which was paid on Saturday, April 30th. Investors of record on Thursday, March 31st were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.98%. The ex-dividend date was Wednesday, March 30th. Edison International’s dividend payout ratio is 183.01%.

About Edison International (Get Rating)

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.

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