Edison International (NYSE:EIX) announced a quarterly dividend on Thursday, June 21st, RTT News reports. Shareholders of record on Monday, July 2nd will be paid a dividend of 0.605 per share by the utilities provider on Tuesday, July 31st. This represents a $2.42 annualized dividend and a dividend yield of 3.99%.
Edison International has increased its dividend payment by an average of 15.2% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Edison International has a payout ratio of 55.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Edison International to earn $4.53 per share next year, which means the company should continue to be able to cover its $2.42 annual dividend with an expected future payout ratio of 53.4%.
Shares of Edison International opened at $60.67 on Friday, according to Marketbeat Ratings. Edison International has a 12-month low of $57.63 and a 12-month high of $83.38. The stock has a market capitalization of $19.70 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 2.58 and a beta of 0.14. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 0.96.
Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, May 1st. The utilities provider reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.11). The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.49 billion. Edison International had a net margin of 4.38% and a return on equity of 10.22%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. equities analysts predict that Edison International will post 4.1 EPS for the current fiscal year.
EIX has been the subject of a number of analyst reports. SunTrust Banks set a $72.00 price objective on shares of Edison International and gave the company a “buy” rating in a research report on Monday, March 19th. Royal Bank of Canada reaffirmed a “buy” rating and set a $70.00 price target on shares of Edison International in a research report on Wednesday, March 14th. Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. TheStreet lowered shares of Edison International from a “b-” rating to a “c” rating in a research report on Thursday, February 22nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $69.00 price target (down previously from $72.00) on shares of Edison International in a research report on Thursday, March 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. Edison International has a consensus rating of “Hold” and a consensus target price of $76.36.
Edison International Company Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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