Edison International (EIX) reported quarterly earnings results on Monday, May-2-2016. The company reported $0.82 earnings per share for the quarter, missing the analyst consensus estimate by $-0.06. Analysts had a consensus of $0.88. The company posted revenue of $2440.00 million in the period, compared to analysts expectations of $2844.83 million. The company’s revenue was down -2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS.
Many Wall Street Analysts have commented on Edison International. Edison International was Downgraded by Goldman to ” Neutral” on Apr 1, 2016. Company shares were Reiterated by Argus on Mar 3, 2016 to “Buy”, Firm has raised the Price Target to $ 76 from a previous price target of $69 .Company shares were Reiterated by Mizuho on Feb 24, 2016 to “Neutral”, Firm has raised the Price Target to $ 69 from a previous price target of $60 .
Edison International opened for trading at $69.11 and hit $70.36 on the upside on Wednesday, eventually ending the session at $69.98, with a gain of 1.67% or 1.15 points. The heightened volatility saw the trading volume jump to 14,86,492 shares. Company has a market cap of $22,800 M.
In a different news, on Mar 24, 2016, Richard T Iii Schlosberg (director) sold 10,000 shares at $71.61 per share price. According to the SEC, on Mar 9, 2016, W James Scilacci (Exec VP and CFO) sold 13,174 shares at $69.05 per share price. On Mar 8, 2016, Ronald Owen Nichols (Senior Vice President, SCE) purchased 665 shares at $67.63 per share price, according to the Form-4 filing with the securities and exchange commission.
Edison International is the parent holding company of Southern California Edison Company (SCE) and subsidiaries. SCE is a public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50000 square mile area of southern California. Edison International is also the parent company of subsidiaries that are engaged in businesses related to the generation or use of electricity. Edison Internationals other subsidiaries include Edison Mission Group Inc. and SoCore Energy LLC. Edison Mission Group Inc. is a wholly owned subsidiary of Edison International and the parent company of Edison Mission Energy and Edison Capital. SoCore Energy LLC a subsidiary engaged in distributed generation has constructed 26 Megawatt of rooftop solar systems in nine states selling power back to commercial customers under power purchase agreements.